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    Anagerial Ccounting: An Overview

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    Venn Bacus Rabadon
    Managerial accounting differs from financial accounting in its focus, users, and flexibility. Financial accounting focuses on external users, the past, objectivity, and precision, while managerial accounting focuses on internal users, the future, relevance, and timeliness. Managerial accounting reports can be tailored to specific segments and need not follow strict GAAP/IFRS standards, as its goal is to support planning, controlling, decision making, and leadership within an organization. Effective managerial accountants require skills in measurement, risk management, process management, and strategic thinking, as well as competence, confidentiality, integrity, and credibility.

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    Anagerial Ccounting: An Overview

    Uploaded by

    Venn Bacus Rabadon
    52 views7 pages
    Managerial accounting differs from financial accounting in its focus, users, and flexibility. Financial accounting focuses on external users, the past, objectivity, and precision, while managerial accounting focuses on internal users, the future, relevance, and timeliness. Managerial accounting reports can be tailored to specific segments and need not follow strict GAAP/IFRS standards, as its goal is to support planning, controlling, decision making, and leadership within an organization. Effective managerial accountants require skills in measurement, risk management, process management, and strategic thinking, as well as competence, confidentiality, integrity, and credibility.

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    Lecture

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    Managerial accounting differs from financial accounting in its focus, users, and flexibility. Financial accounting focuses on external users, the past, objectivity, and precision, while managerial accounting focuses on internal users, the future, relevance, and timeliness. Managerial accounting reports can be tailored to specific segments and need not follow strict GAAP/IFRS standards, as its goal is to support planning, controlling, decision making, and leadership within an organization. Effective managerial accountants require skills in measurement, risk management, process management, and strategic thinking, as well as competence, confidentiality, integrity, and credibility.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    52 views7 pages

    Anagerial Ccounting: An Overview

    Uploaded by

    Venn Bacus Rabadon
    Managerial accounting differs from financial accounting in its focus, users, and flexibility. Financial accounting focuses on external users, the past, objectivity, and precision, while managerial accounting focuses on internal users, the future, relevance, and timeliness. Managerial accounting reports can be tailored to specific segments and need not follow strict GAAP/IFRS standards, as its goal is to support planning, controlling, decision making, and leadership within an organization. Effective managerial accountants require skills in measurement, risk management, process management, and strategic thinking, as well as competence, confidentiality, integrity, and credibility.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 7

    MANAGERIAL ACCOUNTING

    An overview
    Profits Process
    People Planet
    Management
    accountant
    DIFFERENCE BETWEEN FINANCIAL &
    MANAGERIAL ACCOUNTING
    External users
    Past
    Objectivity & verifiability
    Precision
    Company wide reports
    Must follow GAAP/IFRS
    Mandatory

    Internal users
    Future
    Relevance
    Timeliness
    Segment reports
    Need not follow GAAP/IFRS
    Not mandatory

    Financial Accounting Managerial Accounting
    Managerial
    Accounting
    Planning
    (goals)
    Controlling
    (performance)
    Decision
    Making
    (sound
    choice)
    Leadership &Strategic Mgt. Skill
    Measurement Skill
    Enterprise Risk Mgt Skill
    Process Mgt. Skill
    Competence Confidentiality
    Integrity Credibility
    Customers
    Suppliers
    Employees
    Community
    &
    Environment
    Government

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