1) How does managerial accounting differ from financialaccounting? Please refer to the following elements:•...1)...

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Accounting

1) How does managerial accounting differ from financialaccounting? Please refer to the following elements:
• Internal versus External
• Objective/Verifiable versus Relevant
• Type of report (Summary versus Detailed)

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The formal set of accounting required to be prepared to serve the purpose of both internal stakeholders employee management board of directors etc and external stakeholders Tax authorities Suppliers lenders banks etc is FA It has to be followed as per the accounting principles and guidelines The informal set of accounting required to be prepared for See Answer

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In: Accounting1) How does managerial accounting differ from financialaccounting? Please refer to the following elements:•...1) How does managerial accounting differ from financialaccounting? Please refer to the following elements:• Internal versus External• Objective/Verifiable versus Relevant• Type of report (Summary versus Detailed)