There is no difference in the goals of financial accounting and management accounting.

Question

Quizplus · Accepted Answer

Financial accounting and management accounting have different goals.Financial accounting focuses on reporting financial information to external parties,for example investors,government,agencies,banks and suppliers.Management accounting measures analyzes,and reports financial and nonfinancial information that helps managers make decisions to fulfill the goals of an organization.

There Is No Difference in the Goals of Financial Accounting