MANAGERIAL FINANCE AND ACCOUNTING Essay Example | Topics and Well Written Essays - 1250 words

MANAGERIAL FINANCE AND ACCOUNTING - Essay ExampleParticularly focusing on the fiscal monitoring aspect of the company, Creative Ltd. requires additional accounting resources to ensure an optimum level of efficiency and hydrofoil in its financial reporting activities. history is the monitoring and controlling of all financial transactions that lend place, or are liable to take place, and it provides a transparent view of where the company stands financially at any given point in time. However within itself, we can classify it into two study segments (1) Financial, and (2) Managerial. They are discernible as followsremains balanced. These activities include recording financial transactions, posting the double entries to world(a) ledger, maintaining and adjusting general ledgers, closing the books and preparing financial statements. Managerial Accounting is more about monitoring financial performance, conducting unevenness analysis, following through with revised targets. It also e ncompasses the forecasting of sales, revenues, costs, budgeting activities of the firm etc.Financial account statement is conducted for outside stakeholders of the company such as investors, Stockholders, Debt Providers, Regulatory Bodies etc. whereas Managerial Accountancy is executed for decision do within the firm and the information is mostly employed by middle and upper level focussing of the company.Financial Accounting is solely based on the past performance of the company, while Managerial Accounting focuses on the current predicaments and the possible future outcomes based on the previous performance of the company. (Diffen Online)Financial Accountancy requires that the data be completely objective and verifiable, whereas in the case of Managerial Accountancy, the data need not be completely objective or verifiable. This is because financial accountancy is primarily an overview of how the company has performed, thus it must be backed by accurate and concrete figures. H owever,