Who is in charge of financial accounting and who is in charge of management accounting?

Q: Explain the difference between management accounting and financial accounting.

A: ANSWER : Basis of difference Management accounting Financial accounting 1. Meaning…

Q: Why is GAAP Important? and how it will be used in understanding accounting

A: GAAP is a basic set of generally accepted accounting principles which work as a basic guideline in…

Q: business manage

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: What are the functions of the financial balance sheet in assisting in management's decision-making…

A: The question is based on the usage of balance sheet in financial decision making  by managers.

Q: What is the basic difference in orientation between financial and management accounting?

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: What is financial accounting environment?

A: Environmental financial accounting refers to use of information required by stakeholders which are…

Q: What is financial reporting and write the types of reports prepared in business organisation?

A: Financial reports are the reports that to be made available to the stakeholders/public by providing…

Q: Distinguish between financial accounting and management accounting.

A: Managerial accounting: Management accounting is a practice whereby management reports and accounts…

Q: Which accounting system supports decision-making in the business? O a. Personal accounting O b. Cost…

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: differentiate between financial accounting and management accounting

A: Accounting is the process of record of financial data with sorting, storing , retrieving,…

Q: What is the fundamental difference between financial accounting and management accounting in terms…

A: An accountant's job is to keep track of the findings and analyze them.

Q: What is the relevance of the Accounting Information System in the present practice of accounting?

A: Accounting Information System: An accounting information system (AIS) is a framework that a company…

Q: What is the relevance of the Accounting Information System in today's accounting practice, and how…

A: SOLUTION THE PURPOSE OF ACCOUNTING INFORMATION SYSTEM IS TO COLLECT ,STORE AND PROCESS FINANCIAL AND…

Q: When it comes to accrual accounting, what do you name the principles and goals that influence the…

A: It is required that a cost be recorded in the same period as the corresponding income is collected…

Q: What is the distinction between accounting and business administration?

A: Here is the Answer

Q: Define strategy in accounting?

A: Strategic management accounting refers to the managing and analyzing finances of company which help…

Q: How Business Analytics is used in the Accounting

A: Accounting's goals include keeping a systematic record of all financial transactions in a book of…

Q: what are the accounting concepts? define in detail every one of them in financial accounting.

A: Accounting Concepts May be considered as postulates i.e., basic assumptions or conditions upon which…

Q: Distinguish management accounting from financial accounting.

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

Q: Is there a distinction between management and financial accounting?

A: Accounting refers to a process through which all day-to-day activities or transactions occurred or…

Q: When it comes to the contemporary practice of accounting, what is the significance of the Accounting…

A: Here is the Answer

Q: Who are the key users of accounting information? What type of information does each stakeholder…

A: Accounting: Accounting refers to the information system, where the economic activities of a business…

Q: What is a conceptual framework, and how does one create one? In financial accounting, why is a…

A: Conceptual Framework: A conceptual framework logically explains related goals and foundations;.bu1Z…

Q: Which is one of the most important roles of the accounting function within an organization?

A: Accounting Function: Accounting function are the functions related to maintenance of records of the…

Q: Financial accounting is the primary source of information needed for decision- making, planning, and…

A: There are several fields or branches of accounting in practice. One of them is financial accounting.…

Q: Distinguish Financial accounting from Management Accounting

A: Accounting is the process of recording financial transactions that are material to the business. It…

Q: Discuss the terms relevance and faithful representation as they relate to financial accounting…

A: Financial accounting: It can be defined as the branch of accounting that is associated with the…

Q: What  is  the  double entry  system  in accounting?

A: Solution Note : Dear student as per the Q&A guideline we are required to answer the first…

Q: What is the function of accounting information systems in today's accounting practise

A: Accounting Information System (AIS) is a concept. Generally speaking, an accounting information…

Q: Explain what the accrual foundation of accounting is and who is required to use it in your…

A: This question explains about the accrual foundation of accounting .

Q: what is professional judgement in financial accounting ?

A: Financial accounting is that branch of accounting which deals in recording of transactions,…

Q: Explain what management is, define accounting, and discuss the nature and purpose of accounting.

A: Management is the process of planning and organizing the resources and activities of a business to…

Q: Describe the difference between the accounting function and the finance function? What purpose do…

A: The key difference between accounting and finance is that accounting mainly focuses on the…

Q: Make logical comparison between financial accounting with other fields of accounting ?

A: Accounting It is a process under which financial transactions are recorded ,stored, retrieving ,…

Q: f the Accounting Information S

A: Accounting information system: It is the system prepared to collect, record, manage, and process the…

Q: What are the accounting implications of an accounting model whose measurement focus is on “current…

A: The current financial resources measurement focus measures primarily financial resources and does…

Q: Which of the following adequately describes Management Accounting? It is the process of identifying,…

A: Solution Concept Financial accounting               The accounting that is done for the purpose of…

Q: Discuss the relationship between Management Accounting and Financial Accounting

A: Accounting comprises of processes that allow access to critical information that aids in…