Accounting Is Easy
CHAPTER 1 : INTRODUCTION TO MANAGERIAL ACCOUNTING First of all, what is accounting? Accounting is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. Do you know what is managerial accounting? Managerial accounting is the practice of identifying, measuring, analyzing, interpreting and communicating financial information to managers for the pursuit of an organization's goals. It varies from financial accounting because the intended purpose of managerial accounting is to assist users internal to the company in making well-informed business decisions. Then, let proceed to the main topic.... Let us see the comparison between Managerial and Financial Accounting.. MANAGERIAL ACCOUNTING ASPECTS FINANCIAL ACCOUNTING Internal Type of Users Externa...