Traditional Culture Encyclopedia - Traditional culture - What are the two main branches of accounting?
What are the two main branches of accounting?
Financial accounting is to provide regular financial statements as a means to recognized accounting principles as the basis for accounting, external investors, creditors, etc. as the main reporting object, complete and comprehensive report on the financial position and operating results of the accounting. Management accounting is a product of the organic combination of management knowledge and accounting knowledge, with the fundamental purpose of strengthening enterprise management and realizing optimal economic benefits, taking the internal decision-making and management departments of the enterprise as the main reporting objects, adopting flexible methods and means, deep processing and reuse of accounting, statistics and other information to provide useful information for the correct and optimal decision-making and effective operation, and realizing the control of the whole process of the enterprise's economic activities and the control of each responsible party. The control of the whole process of economic activities of the enterprise and the evaluation of each responsibility.
Management accounting and financial accounting originated from the same traditional accounting information system, they have a close relationship; with the development of the economy, the separation of business owners and operators, resulting in different needs, making management accounting gradually stood out, beyond the scope of pure accounting, and become an independent field alongside financial accounting, so there is a clear distinction between management accounting and financial accounting. The separation and continuous development of management accounting, greatly enriching the content of accounting theory, marking the accounting science has entered a new stage of development, but also for the accounting work has opened up a broader space, a correct understanding of the differences and links between financial accounting and management, and then grasp the theoretical connotation of each of them and the practical essentials for the in-depth study of accounting theory and the effective implementation of the accounting work, have a very important significance. The first step is to make sure that you have a good understanding of the differences and connections between financial accounting and management.
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