Time Period
Managerial Accounting provides top management with reports that are future-oriented, while Financial Accounting provides reports based on historical information. There is no time span for producing managerial accounting statements but financial accounting statements are generally required to be produced for the period of 12 previous months.
Read more about this topic: Differences Between Management Accounting And Financial Accounting
Famous quotes containing the words time and/or period:
“A whole village-full of sensuous emotion, scattered abroad all the year long, surged here in a focus for an hour. The forty hearts of those waving couples were beating as they had not done since, twelve months before, they had come together in similar jollity. For the time Paganism was revived in their hearts, the pride of life was all in all, and they adored none other than themselves.”
—Thomas Hardy (1840–1928)
“There is no man, however wise, who has not at some period of his youth said things, or lived in a way the consciousness of which is so unpleasant to him in later life that he would gladly, if he could, expunge it from his memory.”
—Marcel Proust (1871–1922)