Managerial and Financial Accounting Repor
Managerial Accounting and Finance Foundations
FIN 540
February 27, 2006

Financial Accounting vs. Managerial Accounting
The key difference between financial and managerial accounting is that financial accounting is aimed at providing information to parties outside the organization. In contrast, managerial accounting information is aimed at helping managers within the organization make decisions. According to Kieso and Weygant, financial accounting is the process that culminates in the preparation of financial reports relative to an enterprise as a whole for use by parties both internal and external to the enterprise. In contrast, managerial accounting is the process of identification of financial information used by management to plan, evaluate, and control within an organization and to assure appropriate use of, and accountability for, its resources (p. 3). Below summarizes the difference between managerial and financial......

Join Now to view the rest of this term paper!
Members: Login to view this research paper.

Title: Managerial And Financial Accounting Report
Approximate Word Count: 865
Approximate Pages: 4 (250 words per double-spaced page)

With the Term Papers Lab Membership Pass, you get instant access to every essay on this site, including this essay on Managerial And Financial Accounting Report, for as long as you remain a member.

Other essays sites charge almost $100 for a single term paper. At Term Papers Lab, you can get instant access to over 100,000 research papers for as little as $29.95!