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加拿大会计论文代写: Comparison Of Financial And Management Accounting

加拿大会计论文代写: Comparison Of Financial And Management Accounting

Introduction

财务会计和管理会计在会计信息系统中起着重要的作用,它们共同存在于企业的生产经营管理中,构成了现代企业会计制度的一部分。管理会计所需要的大量信息是从财务会计,而财务会计也把既定的预算、标准组织,以及这样的日常会计数据从管理会计的基本前提。

然而,现实情况是,财务会计和管理会计已被越来越多的公司,这根据自己的会计方法,以双重帐户的数据在外部报告和内部管理的目标。这是很难实现两组数据之间的信息共享,造成资源的浪费和重复的努力。

因此,企业应有效整合财务会计和管理会计,充分发挥会计信息系统的功能,使企业获得管理和财务的双重需求,以最低的财务成本。

Financial accounting and management accounting play an important part in accounting information system .They co-exist in enterprise production and operation of management, constituting the modern enterprise accounting system together. Much information which management accounting required is from financial accounting, while financial accounting also put the established budget, standards organizations, and such daily accounting data from management accounting as the basic premise.

However, the reality is that financial accounting and management accounting has been completely separated by an increasing number of companies, which according to their own accounting methods to double account the data at the aim of external reporting and internal management. It is hard to achieve information sharing between the two sets of data, resulting in waste of resources and duplication of effort.

Therefore, companies should integrate financial accounting and management accounting effectively together, and give full play to the function of accounting information system to enable enterprises to obtain the dual needs of management and finance at the lowest financial cost.

Definition of financial and management accounting

Managerial accounting is used primarily by those within a company or organization. Reports can be generated for any period of time such as daily, weekly or monthly. Reports are considered to be “future looking” and have forecasting value to those within the company.

Financial accounting is used primarily by those outside of a company or organization. Financial reports are usually created for a set period of time, such as a fiscal year or period. Financial reports are historically factual and have predictive value to those who wish to make financial decisions or investments in a company (2007) .

Differences between financial and management accounting

Financial accounting and management accounting is two branches of the modern enterprise accounting. The most fundamental difference between them is information for internal decision-making or external provision for decision-making, but the two are interrelated and mutually complementary and mutually complementary relationship.

The focus is different

Financial accounting provides services to outside stakeholders through the record, classification, aggregation of everyday activities of companies and preparation of financial statements and other methods. Having been reviewed and notaried by certified public accountants, corporate financial statements are considered to be reliable by stakeholders, and they can accurately understand the enterprise’s financial position and operating results and make decisions according to the financial statements. From this perspective, the financial accounting is focused on export-oriented services. Precisely because of this character of the financial accounting, it is often called the external financial accounting.

Management accounting provides relevant economic information using a variety of specialized technical approach to the business managers at all levels so as to facilitate goal determining , decision making, preparation of plans, tighten the screws and conduct performance evaluations. From this perspective, management accounting is focused on in-house services. Therefore, people often call management accounting the internal accounting.

Management Accounting is not bound by accounting standards

Financial accounting is mainly for external services.

In order to obtain the confidence of external parties and protect their interests, there must be strict standards and basis for financial accounting, they are the “Accounting Law” and “enterprise financial rules”, “Enterprise Accounting Standards” and the relevant financial laws and regulations requirements at present in China. As the certified public accountants review corporate financial statements, they should focus on examining whether the financial statements comply with generally accepted accounting principles or the relevant provisions.

Management accounting is different because it is primarily for internal management services, hence, they are not constrainted by generally accepted accounting principles or accounting system. Managers at all levels can use a variety of technical methods of management accounting to obtain information, what kind of information is obtained depends on the type of decision-making, business type, and management needs.

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