Université Sidi Mohamed Ben Abdellah

Ecole Supérieure de Technologie - Fes

Département : Sciences et Techniques de Gestion (STG)
Filière : LICENCE LOGISTIQUE

Exposé
Sous le Thème

Accounting

Réalisé par : xxx Encadré par : xxx

xxx

Année Universitaire : 2018/2019

Accounti
ng
Introductio
n
 TABLE OF CONTENTS

What is The GAAP and the

01 accounting IFRS 04

Types of
02 accounting

Financial vs
Managereial
03 accounting Accounting Jobs 05
 What is accounting ?
• Accounting or accountancy is the measurement,
processing, and communication of financial and
non financial information about economic
entities such as businesses and corporations.

• Accounting is the art of identifying, recording,

classifying and summarizing in a significant
manner and in terms of money transactions and
events which are, in part at least of a financial
character and interpreting the result thereof.

• Accounting is a system in which all the financial

transaction are recorded in a proper and system
way.
Objectives or
functions of
accounting
Objective of accounting may differ from
business to business depending upon
their specific requirements. However, the
following are the general objectives of
accounting
• Keeping systematic record.
• Ascertain the results of the
operation.
• Ascertain the financial position of
the business.
• Portray the liquidity position.
• To protect business properties.
• To facilitate rational decision –
making.
• To satisfy the requirements of law.
 Accounting Process
Ledger Posting Income
&position
Classificatio statement
Interpreting
n

Recording of Summarizing Analysis of

transaction
Journal entry Trial balance transactions
Types of accounting
 Financial Managerial
Financial accounting is the process of Managerial accounting is the process of
recording and analyzing financial identifying, measuring, interpreting and
transactions and reporting them in communicating information to
financial statements to its existing and management to assist them in planning,
potential investors, lenders, and creditors decision making and risks management.

Cost Tax
Just as managerial accounting helps Tax accounting is a structure of
businesses make decisions about accounting methods focused on taxes
management, cost accounting helps rather than the appearance of public
businesses make decisions about financial statements. Tax accounting is
costing. Essentially, cost accounting governed by the Internal Revenue Code,
considers all of the costs related to which dictates the specific rules that
producing a product. Analysts, companies and individuals must follow
managers, business owners and when preparing their tax returns.
accountants use this information to
determine what their products should
cost.
 Financial
accounting
vs
Managerial
accounting:
Financial accounting and managerial
accounting are two of the largest
branches of the accounting discipline.
Despite many similarities in approach
and usage, there are significant
differences between the two. These
differences center on compliance,
accounting standards, and target
audiences and others
 Financial accounting vs Managerial
accounting:

Target audience
The main objective of Managerial accounting is to produce useful
information for a company's internal use. Business managers collect
information that encourages strategic planning, helps them set realistic
goals, and encourages an efficient directing of company resources.

Financial accounting has some internal uses as well, but it is much more
concerned with informing those outside of a company.
 Financial accounting vs Managerial
accounting:

Outlook
The information created through financial accounting is entirely historical,
financial statements contain reports for a defined period of time like the
closing balances of assets, liabilities and equity.

In the other hand management accounting make reports to help

management make decisions that impact the future like budgets or
forecasts which determine how a business choses to allocate it’s resources.
 Financial accounting vs Managerial
accounting:

Scope
Financial statements consolidate the results of all the different departments
and business units so that external parties can get an understanding for the
big picture of the whole business so here we have a broad scope.

In the managerial accounting the scope is narrow, management

accountants slice the company into different segments divisions and cost
centers to provide the managers all this different areas in order to help
them with financial and non-financial information.
 Financial accounting vs Managerial
accounting:

Priority
In financial accounting the focus is always on being objective and precise,
financial statements are meant to reflect a true and fair view of the
business’s state of affairs at the end of an accounting period.

In managerial accounting, the priority is on being relevant and timely, the

management accountants should deliver their analysis on time, also their
reports are confidential and for internal use only.
 Financial accounting vs Managerial
accounting:

Regulation
The biggest practical difference between financial accounting and
managerial accounting relates to their legal status. Reports generated
through managerial accounting are only circulated internally. Each company
is free to create its own system and rules on managerial reports. This means
there is no centralized system regulating reports, and it can often take much
longer to find what you need.

In financial accounting the focus is always on being objective and precise,

financial statements are meant to reflect a true and fair view of the
business’s state of affairs at the end of an accounting period.
 Financial accounting vs Managerial
accounting:

Necessity
Financial accounting is important because it provides an organization's
stakeholders with business statements, allowing them to know if the
organization is making or losing money. This information is essential in
determining if a company is able to maintain profitability.

Management’s accountants are technically not required, they are more as a

luxury thing that companies don’t necessary need.
The GAAP and the IFRS
GAAP: Generally accepted accounting
principles refer to a common set of
accounting principles, standards, and
procedures issued by the Financial
Accounting Standards Board (FASB).
Public companies in the United States
must follow GAAP when their
accountants compile their financial
statements. GAAP is a combination of
authoritative standards and the
commonly accepted ways of recording
and reporting accounting information.
GAAP aims to improve the clarity,
consistency, and comparability of the
communication of financial
information.
IFRS were established to create a
common accounting language, so that
businesses and their financial
statements can be consistent and
reliable from company to company
and country to country.
They specify how companies must
maintain and report their accounts,
defining types of transactions and
other events with financial impact.
IFRS: International Financial Reporting
Standards set common rules so that
financial statements can be
consistent, transparent and
comparable around the world. IFRS are
issued by the International Accounting
Standards Board (IASB).
Differences
 Local vs Global
IFRS is used in more than 110
countries around the world,
including the EU and many
Asian and South American
countries. GAAP, on the other
hand, is only used in the
United States. Companies that
operate in the U.S. and
overseas may have more
complexities in their
accounting.
Rules vs Principles

GAAP tends to be more rules-

based, while IFRS tends to be
more principles-based. Under
GAAP, companies may have
industry-specific rules and
guidelines to follow, while IFRS
has principles that require
judgment and interpretation to
determine how they are to be
applied in a given situation.
 Inventory
Methods
Both GAAP and IFRS allow First
In, First out (FIFO), weighted-
average cost, and specific
identification methods for
valuing inventories. However,
GAAP also allows the Last In,
First out (LIFO) method, which
is not allowed under IFRS.
Using the LIFO method may
result in artificially low net
income and may not reflect
the actual flow of inventory
items through a company.
Accounting
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