The difference between traditional financial accounting and modern financial accounting

The difference between traditional financial accounting and modern financial accounting is that traditional financial accounting focuses on bookkeeping and modern financial accounting focuses on management; Modern financial accounting has a high degree of contact with other management systems of enterprises, while traditional financial accounting is relatively low. Different management tools, traditional financial accounting uses manual tools for bookkeeping, such as abacus and paper account books. Most modern financial accounting is a computer.

Since the 20th century, especially after the Second World War, the socialization of capitalist production has developed at an unprecedented level, and modern science and technology and economic management science have developed by leaps and bounds. Influenced by the social, political, economic and technical environment, traditional financial accounting has been enriched and improved, and financial accounting has become more standardized, universal and standardized.