Question

Explain how accounting is different from management accounting

Answer 1

Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations.
And the provision of financial data and advice to a company for use in the organization and development of its business.

Answer 2

______ʜᴇʏ ᴍᵃᵗᵉ_______


Accounting is a systematic process of identifying ,measuring ,recording, classifying summarising ,interpreting and communicating financial information . Accounting information gives___________

⚫The resources available .

⚫How the available resources have been employed .


⚫The result achieved by their use .


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Whereas, Management Accounting is the most recently developed branch of accounting .It is concerned with generating accounting information relating to funds ,cost, profit .


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