Financial accounting is historic and management accounting is current and future.

Keep practicing — related questions

• Management accountants consider both the historical data and the projected data.
• Management accountant is responsible for interpretation of financial statements.
• Management accounting is designed for use in the operational needs.
• Management accounting provides information to the management only for control purposes.
• Directions: State whether the following statement is True Or False. Main objective of financial management ...
• Account receivable is a current asset.
• A financial plan explains how a business will manage its records.
• If the provision of depreciation account has been created, what will be its implication in the financial st...