ACCTG 102 Lecture Notes - Lecture 24: Management Accounting, Financial Accounting, Cost Leadership
Document Summary
Management accounting- measures, analyzes and reports financial and non- financial information that helps managers make decisions to fulfill organizational goals. Coordinate product design, production and marketing decisions and evaluate companies performance. Financial accounting- focuses on reporting financial information to external parties such as investors, government agencies, banks and suppliers based on. Cost accounting- measures, analyzes and reports financial and nonfinancial information related to the cost or acquiring or using resources in an organization. Major differences between management and financial accounting. Management- help managers make decisions to fulfill organization goals. Financial- communicate an organizations financial position to investors, banks, regulators and other outside parties. Financial- external users such as investors, banks and suppliers. Management- varies from hourly information to 15 to 20 years, with financial and nonfinancial reports in product, departments, territories and strategies. Financial- annual and quarterly financial reports, primarily on the. Strategic decisions and the management accountant company as a whole opportunities in the marketplace.
