Professional Documents
Culture Documents
Management
Accounting
Management accounting focuses on effective and efficient use of resources to
enhance customer and shareholder value.
Management vs Financial Accounting
Management
1. Internal user focus
2. No mandatory rules
3. Financial and non-financial sources
4. Subjective with emphasis on future
5. Timely and relevant
6. Internal evaluation based on
detailed info
Financial
1. External user focus
2. Follow external rules
3. Financial sources
4. Objective with historical
orientation
5. Reliable and verifiable
6. Highly aggregated information
Value
Resources
Processes
Activity Based Management (ABM)
a. Process analysis
b. Process improvement