Title: Managerial and Financial Accounting

Essay Details

Subject: Business
Author:
Date: December 18, 2013
Level: University
Grade: A
Length: 3 / 830
No of views: 0
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Essay text:

Another key difference between the two types of accounting is frequency of preparation. In managerial accounting, reports can be created for any period of time (i.e. – daily, weekly, monthly). Financial reports are usually generated for a set period of time, such as fiscal year. Managerial accounting reports are prepared utilizing scientific and statistical methods to arrive at monetary values (Financial, 2007)...

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Managerial accounting reports are prepared utilizing scientific and statistical methods to arrive at monetary values (Financial, 2007). Examples of these reports include sales forecasting, budget analysis, and merger/consolidation reports. On the other hand, financial accounting focuses on the production of financial reports, including basic reporting on profitability (this is of specific interest to potential investors)...

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