MANAGERIAL ACCOUNTING

An overview
Profits Process
People Planet
Management
accountant
DIFFERENCE BETWEEN FINANCIAL &
MANAGERIAL ACCOUNTING
External users
Past
Objectivity & verifiability
Precision
Company wide reports
Must follow GAAP/IFRS
Mandatory

Internal users
Future
Relevance
Timeliness
Segment reports
Need not follow GAAP/IFRS
Not mandatory

Financial Accounting Managerial Accounting
Managerial
Accounting
Planning
(goals)
Controlling
(performance)
Decision
Making
(sound
choice)
Leadership &Strategic Mgt. Skill
Measurement Skill
Enterprise Risk Mgt Skill
Process Mgt. Skill
Competence Confidentiality
Integrity Credibility
Customers
Suppliers
Employees
Community
&
Environment
Government