Roles And Responsibilities Of Financial And Managerial Accounting Managers
Roles and Responsibilities
Of
Financial and Managerial Accounting Managers
According to Horngren, Sundem and Stratton in “Introduction to Management Accounting”, “Good management is a result of good information,” (p.3). Collecting and compiling information about a company are the primary responsibilities of both financial and managerial accounting managers. Management accounting produces information for the managers in a company to help fulfill organizational objectives.
“Financial accounting produces reports for external parties such as stockholders, suppliers, banks, and government regulatory agencies,” (p.5) and must adhere to the standards set by the generally accepted accounting practices (GAAP). However, a general purpose accounting system suits both needs.
Managers need the answers to questions that help an organization to achieve their goals. Some examples of these questions would be whether the company is doing well or poorly (scorecard),......
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Approximate Word Count: 386
Approximate Pages: 2 (250 words per double-spaced page)
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