Question

What is Managerial Accounting and how is it different from Financial Accounting?

Answer 1

Ans:

Definantion:-

A managerial accounting is a field of accounting that provides economic and financial information for managers and other internal users and also called as management accounting

Difference:-

The difference between financial and managerial accounting is that financial accounting is the collection of accounting data to create financial statements, while managerial accounting is the internal processing used to account for business transactions.