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:
“God will take care of you for me. I am my God’s. I belong to him, I go a short time before you, and I want to meet all in heaven, both white and black.”
—Andrew Jackson (1767–1845)
“If there is any period one would desire to be born in, is it not the age of Revolution; when the old and the new stand side by side, and admit of being compared; when the energies of all men are searched by fear and by hope; when the historic glories of the old can be compensated by the rich possibilities of the new era?”
—Ralph Waldo Emerson (1803–1882)