ACC501 MOD01 Discussion Managerial vs. Financial Accounting Name Courses Instructor Date Management and financial accounting have similarities, but the purpose of managerial accounting differs from financial accounting. Management accounting places more importance on the future through highlighting on relevant information for decision-making. On the other hand, financial accounting focuses on past information that represents a true and fair view about the financial position. As such, management accountants look into changes in economic conditions to facilitate planning and control to estimate what would happen as opposed to what has already
...
