Financial management and accounting - overview

This article deals with a brief overview of some of the differences between the accounting financial accounting and management systems. But first let understand us what accountant is.
What is accounting? Accountant may be defined as a collection system, summerising, analysis and reporting financially, information about a business organization.Includes as understood today, corporate accounting, accounting and management comptable.Ces two parts of the system business have something in common, and there are therefore differences.
For accounting of business enterprises, these two two mutually differs in many respects.
The first difference is in its structure or format of presentation of the information. financial accounting has a single unified structure of presentation, which means that commercial enterprise system information are more or less presented as finished products uniforme.Les financial accounting are its three basic financial statements, and they are:
-The balance sheet.
-The profit and loss account/result.
-Statement of changes in financial position.
The balance sheet presents the financial situation of an organization at any time. Profit and loss statement would contain the financial performance of the Organization over a period of time, which is usually one year.CHF and the output of the financial resources of the Organization for a period of time is reported in the statement of changes.
Prepared financial statements are based on an equation or a template, which implies that all organisations submit their financial statements on the basis of a uniform structure.This would mean that financial accounting has a unified structure.
Financial statements are usually intended primarily for people outside of the Organization, as shareholders, creditors, Government, general public and, as of other .these people also get these reports from other organizations, and to maintain uniformity in these statements, financial accounting system uses a system of unified structure.
On the other hand, the accounting management is primarily concerned with internal management.Given that the accounting statements are used internally, it varies in the structure of an organization to organization, depending on the circumstances and the requirements for individual use. Therefore, accounting management is adapted to the needs of particular organization management.
The difference is in generally accepted accounting principles.Financial accounting is prepared in accordance with generally accepted accounting principles, which, in brief, is known as GAAP.Whereas in accordance with the following GAAP financial statements preparation ensures that account presentations have been prepared on a standard basis according to the General guidelines issued by the law.
On the other hand, accounting management is internal and is for the exclusive use of the organization management.These statements of management accounting are never made available to foreigners and hence could be formulated as desired as management internal.
The third difference between the financial accounting and accounting management is explained above comptes.Comme establishing statutory requirement, financial statements are prepared only to persons outside of the Organization, who have interests in the operation of the activities of the organization.There are shareholders, who would use the information contained in the Financials, to decide to invest in the organization or non.Par law, it is required to prepare these statements, and is a legal obligation.In fact, the corporate law not only makes it compulsory to prepare these accounts, it has also fixed structures, that these financial statements shall be prepared.
The fourth difference is a reflection of historical accounts.As mentioned above, there are three types of financial accounting are préparés.Dans these three, while the balance and the account of profits and losses report financial position on a particular date and the results of the operation of the organization in a specific period, respectively, the statement of changes in financial position reports the influx and exit resources over a significant period of temps.Par, Financials store historical data .d ', the accounting will not save any financial history of the organization.
The fourth door on the Financials sectorielle.Comptabilité difference relates to business as a whole, although some organizations segment such accounting for its various .but operating centers, as and when financial statements are presented, it shows the enterprise in its ensemble.Contrairement this, management accounting system may submit declarations on a segmented basis.
Finally, financial and accounting management accounting differs from their ultimes.La accounting objectives is prepared specifically for external reporting, where - as management accounts are only for internal use.
In this brief introduction, it became very clear how accounting differs with preparing account gestion.Deux accounting systems are vital to any business scenario and are mandatory requirements in an enterprise environment.
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