Managerial vs Financial Accounting

managerial Finance smear memorandum to:          Sally Jones from:      subject:    managerial V.S. Financial Accounting date:        8/22/2012   Hello Sally, As you stand previously worked at a fiscal hold preparing and processing financial statements and financial journal entries, I am positive that you be particular aw ar of how financial calling card works. However, since you have been hired on as a managerial accountants assistant, it occurred to me that you aptitude not be as aw atomic number 18 of what a managerial accountant does. I would same(p) you to have the best chance at performing the functions required for your position. To do this, I feel that I should beg off to you most of the differences and similarities between managerial method acting of accounting and financial accounting as well as describe you an example or aboriginal of what you should expect to have to do to create a managerial report. This memorandum is for this purpose. Financial Accounting As financial accounting has been your landed estate of expertise for a remarkable amount of time now, you ar already aw ar of what financial accounting does and is. However, in set off of explicateing what managerial accounting is, I feel it necessary to explain financial accounting as well.

This is not because I know your knowledge in this res publica is in any command faulty precisely I feel it necessary to be thorough. The main goal of financial accounting is to prepare reports for withdraw sources such as stockholders, investors, or for tax purposes (Financial Accounting. (n.d.). There are a few distinct financial accounting systems besides the most common are Accrual and Cash methods (Financial Accounting. (n.d.). The currency method recognizes revenue on a cash land coat only. This means that incomplete the revenue nor the expenses are declare until afterward the cash is received. This is big for small businesses but is not very logical for vauntingly business. Large companies would be much than promising to use the accretion method of accounting. The accrual method is recording...If you indispensableness to get a full essay, order it on our website: Ordercustompaper.com

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