Acquisition Essay example
1-1 Management accounting measures, analyzes and reports financial and nonfinancial information that helps managers make decisions to fulfill the goals of an organization. It focuses on internal reporting and is not restricted by generally accepted accounting principles (GAAP). Financial accounting focuses on reporting to external parties such as investors, government agencies, and banks. It measures and records business transactions and provides financial statements that are based on generally accepted accounting principles (GAAP). Other differences include (1) management accounting emphasizes the future (not the past), and (2) management accounting influences the behavior of …show more content…
2. The “Standards of Ethical Conduct . . . ” require management accountants to • Perform professional duties in accordance with relevant laws, regulations, and technical standards. • Refrain from engaging in any conduct that would prejudice carrying out duties ethically. • Communicate information fairly and objectively.