Page 18 - BA2 Integrated Workbook - Student 2017
P. 18
Chapter 1
3.2 Management accounting compared to financial accounting
The main role of financial accounting is to produce the statutory financial statements,
whereas management accountants provide any information needed by management.
Financial accounting Management accounting
External Internal
Focus
Statutory At discretion of
Law
requirement management
Role Produce statutory Provide information
accounts for management
Governance Many rules and No rules or
regulations regulations
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