Characteristics of Managerial Accounting | Characteristic of managerial accounting
Thisis“CharacteristicsofManagerialAccounting”,section1.1fromthebookAccountingforManagers(v.1.0).Fordetailsonit(includinglicensing),clickhere.ThisbookislicensedunderaCreativeCommonsby-nc-sa3.0license.Seethelicenseformoredetails,butthatbasicallymeansyoucansharethisbookaslongasyoucredittheauthor(butseebelow),don'tmakemoneyfromit,anddomakeitavailabletoeveryoneelseunderthesameterms.ThiscontentwasaccessibleasofDecember29,2012,anditwasdownloadedthenbyAndySchmitzinanefforttopreservetheavailabilityofthisbook.Normally,theauthorandpublisherwouldbecreditedhere.However,thepublisherhasaskedforthecustomaryCreativeCommonsattributiontotheoriginalpublisher,authors,title,andbookURItoberemoved.Additionally,perthepublisher'srequest,theirnamehasbeenremovedinsomepassages.Moreinformationisavailableonthisproject'sattributionpage.Formoreinformationonthesourceofthisbook,orwhyitisavailableforfree,pleaseseetheproject'shomepage.Youcanbrowseordownloadadditionalbooksthere.Todownloada.zipfilecontainingthisbooktouseoffline,simplyclickhere.Hasthisbookhelpedyou?Considerpassingiton:HelpCreativeCommonsCreativeCommonssupportsfreeculturefrommusictoeducation.Theirlicenseshelpedmakethisbookavailabletoyou.HelpaPublicSchoolDonorsChoose.orghelpspeoplelikeyouhelpteachersfundtheirclassroomprojects,fromartsuppliestobookstocalculators.PreviousSectionTableofContentsNextSection1.1CharacteristicsofManagerialAccountingLearningObjectiveComparecharacteristicsoffinancialandmanagerialaccounting.Question:TheissuefacingthepresidentatSportswearisacommonone.CompaniesprefernottodisclosemoreinformationthanisrequiredbyU.S.GAAP,buttheywouldliketohavemoredetailedinformationforinternaldecision-makingandperformance-evaluationpurposes.Thisiswhyitisimportanttodistinguishbetweenfinancialandmanagerialaccounting.Whatisthedifferencebetweeninformationpreparedbyfinancialaccountantsandinformationpreparedbymanagerialaccountants? Answer:FinancialaccountingProvideshistoricalfinancialinformationtoexternalusers.focusesonprovidinghistoricalfinanci
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