Financial and Managerial Accounting Comparison

Financial and managerial Accounting Comparison

Introduction

Management accounting plays a vital role in activities such as planning, directing and motivating and controlling. The main role of management accountant has always been to improve their organisation's performance by providing relevant information for decision making. (Kaplan, Pp.400, 1984). Financial accounting is a type of accounting that deals with the money as an indicator and measure of the financial performance. It doesn't take into account the factors of cost such as factory overheads, variable and fixed costs and the factors of production involved. This field of accounting accumulates and gathers the financial ...