What are the connections and differences between management accounting and financial accounting

The basic function of accounting is accounting and supervision, focusing on the reflection and supervision of funds. The basic functions of finance are decision-making, planning and control, focusing on the organization, use and management of funds. Financial management and accounting are two different majors, simply put, accounting is in charge of money, and financial management is in charge of accounting.

But in fact, the courses of financial management and accounting majors are similar, and general financial management will take more advanced financial management, financial analysis and other courses than accounting. The two majors are complementary in many cases, those who study accounting must understand financial management, and those who study financial management must understand accounting. The purpose of both is to improve the efficiency of the enterprise, and the target is also the enterprise capital.

In practice, the two often intersect with each other, but the functions and contents of both....

One. The target audience is different.

Financial accounting can also be called "external accounting" because it serves external investors, creditors and other relevant institutions.

Management accounting is to serve the enterprise itself, and the user is the internal manager of the enterprise, which can also be called "internal accounting".

Two. The hierarchy of the main body of work is different.

The main body of financial accounting often has only one level, that is, the whole enterprise is mainly the main body of work.

The main body of management accounting can be divided into multiple levels.

Three. The principles and standards to be followed are different.

Financial accountants must take the accounting regulations, accounting standards, accounting systems and relevant regulations formulated by the state or industry organizations as the criterion and norms for their work.

Management accounting, on the other hand, is not subject to the complete restrictions and strict constraints of accounting standards and the industry's unified accounting system.

Four. The duration of action is different.

The timeliness of financial accounting is mainly to reflect the past, record and summarize the operating conditions of enterprises, and prepare, report and audit financial statements.

Management accounting, on the other hand, focuses on the future, doing a lot of analysis and comparison on the basis of financial statements.

Five. The characteristics and carriers of information are different.

Financial accounting regularly provides more comprehensive, systematic, continuous and comprehensive financial information to groups or individuals with an interest in the enterprise, and mainly monetary information. The information carrier of financial accounting is a voucher system, an account book system and a statement system in a unified format, and the types of financial reports are uniformly stipulated.

The information provided by management accounting is often selective, partial and irregular management information to meet the specific requirements of internal management, and both monetary and non-monetary information are emphasized. Most of the information carriers of management accounting are various internal reports that do not have a uniform format, and there is no uniform regulation on the types of reports.

Six. The working procedure is different.

Financial accounting must carry out a fixed accounting cycle procedure.

Whereas, management accounting work is less procedural, and there is no fixed work procedure to follow.

Seven. The methodology is different.

The methods of financial accounting are relatively stable, and only simple arithmetic methods are often required for accounting.

Management accounting, on the other hand, can choose flexible and diverse methods to analyze and deal with different problems.

Eight. Perceptions and orientations are different.

Financial accounting focuses on how to truly and accurately reflect the distribution, use and consumption of human, financial and material elements in the supply, production and marketing stages of the production and operation of the enterprise, and attaches great importance to regularly reporting the financial status of the enterprise and the quality of the operating results.

Management accounting, on the other hand, not only focuses on the results of the implementation of management behaviors, but also pays more attention to the process of management.

Nine. The requirements for the quality of accounting personnel are different.

Financial accounting work requires specialized personnel with solid basic knowledge, strong operational ability and meticulous work.

Management accounting methods are flexible and diverse, so to a large extent, the level of management accounting depends on the quality of accounting personnel.

The connection between management accounting and financial accounting: 1. It also belongs to modern accounting. Management accounting and financial accounting originate from the same matrix and together constitute the organic whole of the modern enterprise accounting system.

The two are interdependent, mutually restrictive and mutually complementary. 2. The ultimate goal is the same. Management Accounting and Financial Accounting work in the same environment...

The connection between management accounting and financial accounting: 1. It also belongs to modern accounting. Management Accounting and Financial Accounting originate from the same specialty.

A matrix, together constitute a modern enterprise association.

The organic whole of the genus system. The two are interdependent, mutually restrictive and mutually complementary. 2. The ultimate goal is the same. Management Accounting and Financial Accounting work in the same environment...

Finance and accounting are two different positions, which are generally not separated from each other and are collectively referred to as accounting.

Finance and accounting generally include: accounting, cashier, custodian and other positions.

Accounting is divided into industry, commerce, construction, development, catering, tourism and other enterprise accounting and budget accounting of administrative institutions.

Accounting in the enterprise is generally divided into management, supervisor, procurement, production, cost, current and other accounting positions according to the work department;

Or according to the content of the work, it can be divided into: general ledger, bookkeeping, auditing and other accounting positions.

These internal classifications should be arranged according to the nature of the unit, the size of the business, etc., some can be set up separately, some can be combined, and some can be completed by one person.

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1. The connection between management accounting and financial accounting:

1.The ultimate goal of both is the same.

Management accounting and financial accounting jointly serve the purpose of enterprise management, and their ultimate goal is to improve the operation and management of enterprises and improve the economic efficiency of enterprises. Financial accounting has the function of reflection and control, and the basic method of accounting is also the method of internal control; Management accounting is a direct management service for enterprises.

2.The information** is basically the same for both.

Many of the materials required for management accounting are in the financial accounting system, and its main work content is to carry out deep processing and reuse of financial accounting information, so it is constrained by the quality of financial accounting work; In the development and reform of financial accounting, it is necessary to give full consideration to the requirements of management accounting, so as to expand the ability to exchange information and process and to avoid unnecessary duplication and waste.

3.The main indicators of the two penetrate each other.

The historical capital, cost, profit and other relevant indicators provided by financial accounting are an important basis for management accounting to make long-term and short-term decision-making analysis. The plan determined by management accounting is the goal of financial accounting for daily accounting. Their main indicator system and content are consistent, especially the internal accounting indicator system of the enterprise should be implemented synchronously to achieve effective control and management.

4.The two complement each other methodologically.

The methods of management accounting are mainly **, decision-making, budgeting, control and assessment; The methods of financial accounting are mainly accounting, analysis, and inspection. Management accounting uses the advantages of financial accounting and analysis to collect and process data; Financial accounting uses advanced methods of management accounting to simplify accounting, strengthen accounting analysis and inspection, and provide accounting information.

5.The information provided by both has common characteristics.

Relevance and reliability are common characteristics of management accounting and financial accounting information. Information is the basis for decision-making, and both internal managers and external investors and creditors need to be relevant and reliable.

2. The difference between management accounting and financial accounting:

Management accounting is a branch of enterprise accounting that is separated from traditional accounting and alongside financial accounting, focusing on improving the operation and management of enterprises and improving economic efficiency.

Differences and connections between management accounting and financial accounting.

1) In terms of service users. Financial accounting is mainly to provide financial information useful for decision-making by relevant parties outside the enterprise, so it belongs to "external reporting accounting"; Management accounting, on the other hand, focuses on making optimal decisions for the management department of the enterprise to effectively improve production and operation, provide useful financial and management information in a timely manner, and participate in the operation and management of the enterprise, so it belongs to "internal reporting accounting".

2) In terms of work priorities. Financial accounting is mainly oriented to the past, providing and interpreting historical information, so it belongs to "accounting accounting"; Management accounting is future-oriented, and it is necessary to actively use relevant information to prospect, participate in decision-making, plan for the future, control and evaluate economic activities, so it belongs to "business accounting".

3) In terms of procedures and methods. Financial accounting adopts relatively fixed procedures and methods such as filling in vouchers, registering account books, and preparing statements, and is subject to relevant accounting standards; The procedures and methods adopted by management accounting for the services of the enterprise itself can be flexible and diverse, with greater selectivity, and do not have to be subject to unified accounting standards.

Both management accounting and financial accounting are based on accounting and accounting supervision.

There is no such thing as a generalization of whom!

Some companies focus on management, so they set up management accounting.

Some companies focus on accounting, so financial accounting is more important!