Define accounting and illustrate its uses with a success story in this field. * Illustrate the vast accounting users. * Define management accounting and financial accounting. * Thesis statement: to discuss the variations between the 2 branches and how they aid decision making. Body: * Financial accounting: * Financial accounting reports and its legal requirements.
The benefits of the reports. * What is financial accounting concentrated in? What transactions does it report and what are its benefits?
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What does financial accounting issue? * Functions of financial accounting * How does financial accounting aid decision making * Management accounting: * The goal of management accounting. * What transactions does management accounting report?
What does management accounting issue and what does it influence? * Functions of management accounting * Management accounting tools depending on financial statement items. * How does management accounting aid decision making? Conclusion:
Financial accounting and management accounting differ in areas including the legal requirements, main functions, reporting criteria, kind of data utilised, specification of users , specification of transactions. * Summary of points. * Illustrate personal opinion about the branches. …
* Investing activities: to calculate business activity by purchase and sale of long term assets and other resources.
Operating activities: to calculate business activity by transactions that relate to primary operations of a business as rent, wage etc.(accounting information and decision making,2012). Financial accounting information guides the decision of investors and creditors to identifying successful companies to lend or invest money. For example, finan
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