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An Overview of Entire Accounting

An Overview of Entire Accounting

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Published by: glittr on Aug 27, 2010
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10/30/2011

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11--11
Copyright
¥
Houghton Mifflin Company. All rights reserved.
Financial and ManagementFinancial and ManagementAccountingAccounting
»»
Accounting¶s role of assistingAccounting¶s role of assistingdecision makers by measuring,decision makers by measuring,processing, and communicatingprocessing, and communicatinginformation is usually divided intoinformation is usually divided intotwo categories:two categories:1.1.Management accounting.Management accounting.2.2.Financial accounting.Financial accounting.
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The two may be distinguished by theThe two may be distinguished by theprincipal users of their information.principal users of their information.
 
11--22
Copyright
¥
Houghton Mifflin Company. All rights reserved.
»»
I
s oriented toward the needs of 
I
s oriented toward the needs of internal decision makers.internal decision makers.
»»
Provides managers and employeesProvides managers and employeeswith information regarding howwith information regarding howthey have done in the past andthey have done in the past andwhat they can expect in the future.what they can expect in the future.
Management AccountingManagement Accounting
 
11--33
Copyright
¥
Houghton Mifflin Company. All rights reserved.
»»
I
s oriented toward the needs of 
I
s oriented toward the needs of external decision makers.external decision makers.
»»
Provides information in the form of Provides information in the form of financial statements so that externalfinancial statements so that externaldecision makers can evaluate howdecision makers can evaluate howwell the business has achieved itswell the business has achieved itsgoals.goals.
Financial AccountingFinancial Accounting

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