Managerial vs Financial Accounting

managerial Finance Office memorandum to:          Sally Jones from:      bailiwick:    Managerial V.S. Financial Accounting date:        8/22/2012   Hello Sally, As you have previously worked at a monetary staunch preparing and processing financial statements and financial ledger entries, I am positive that you be precise aw ar of how financial bill works. However, since you have been hired on as a managerial controllers assistant, it occurred to me that you might non be as aw are of what a managerial accountant does. I would same(p) you to have the best chance at playacting the functions required for your position. To do this, I feel that I should require off to you about of the differences and similarities between managerial accounting and financial accounting as well as show you an pillowcase or cardinal of what you should expect to have to do to pretend a managerial report. This memorandum is for this purpose. Financial Accoun ting As financial accounting has been your realm of expertise for a epochal amount of time now, you are already aware of what financial accounting does and is. However, in trip of explaining what managerial accounting is, I feel it necessary to explain financial accounting as well.

This is not because I deal your knowledge in this empyrean is in any instruction faulty precisely I feel it necessary to be thorough. The main goal of financial accounting is to prepare reports for removed sources such as stockholders, investors, or for tax purposes (Financial Accounting. (n.d.). There are a few opposite financia l accounting systems but the most common are! Accrual and Cash methods (Financial Accounting. (n.d.). The coin method recognizes revenue on a cash primer coat only. This means that neither the revenue nor the expenses are acknowledged until afterward the cash is received. This is enormous for small businesses but is not very logical for self-aggrandising business. Large companies would be more than promising to use the accumulation method of accounting. The accrual method is recording...If you indispensableness to get a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay