Managerial vs Financial Accounting

managerial Finance Office memorandum to:          Sally Jones from:      vanquish:    Managerial V.S. Financial Accounting date:        8/22/2012   Hello Sally, As you have previously worked at a pecuniary staunch preparing and processing monetary statements and financial daybook entries, I am positive that you be precise aw ar of how financial bill works. However, since you have been hired on as a managerial controls assistant, it occurred to me that you might not be as aw ar of what a managerial accountant does. I would same(p) you to have the best chance at playing the functions required for your position. To do this, I feel that I should wiretap off to you about of the differences and similarities between managerial accounting and financial accounting as well as show you an drill or cardinal of what you should expect to have to do to crap a managerial report. This memorandum is for this purpose. Financial Accounting As financia l accounting has been your realm of expertise for a world-shaking amount of time now, you are already aware of what financial accounting does and is. However, in trip of explaining what managerial accounting is, I feel it necessary to explain financial accounting as well.

This is not because I deal your knowledge in this domain of a function is in any instruction faulty precisely I feel it necessary to be thorough. The main goal of financial accounting is to prepare reports for removed sources such as stockholders, investors, or for tax purposes (Financial Accounting. (n.d.). There are a few varied financial accounting systems but the most common are Accrual and Cash methods (Fina ncial Accounting. (n.d.). The coin method r! ecognizes revenue on a cash primer coat only. This means that uncomplete the revenue nor the expenses are acknowledged until afterward the cash is received. This is gravid for small businesses but is not very logical for monumental business. Large companies would be more than promising to use the aggregation method of accounting. The accrual method is recording...If you indispensableness to get a full essay, order it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: write my essay