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What Is Management Accounting?

Financial accounting provides information for third parties of an organization (Horngren, Sundem, & Stratton, 2005). That is why it is vital for financial accountants to provide useful and comprehendible information that can aid them in their decision making. Such information that can help is assessments of amounts of cash flow, timing of cash flow, and even uncertainty of cash flow. Also economic resources of the enterprise, claims on those resources, the effects of transactions if any, events, and circumstances that could effect them. Responsibilities of financial accountants are recording the business's financial information, then classifying the information, along with summarizing and communicating it to the public.

Management accounting provides information for managers in an organization (Horngren, Sundem, & Stratton, 2005). An organization is a team and to help the team the management accountants have to provide correct and useful information too. They have to......


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Approximate Word Count: 392
Approximate Pages: 2 (250 words per double-spaced page)

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