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:
“The chuck wagon carries the food and utensils for the range kitchen. Man-at-the-pot is the first buckaroo to pick up the coffee pot when out with the chuck wagons. It becomes his duty to pour the coffee for the outfit. “Come and get her before I throw her out” is the time honored mess call.”
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“To give an accurate and exhaustive account of that period would need a far less brilliant pen than mine.”
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