Introduction to Management Accounting

Question 1

4 Standards of ethical coduct

Answer 1

1. Integrity
2. Objectivity
3. Confidentiality & Professional competence
4. Compliance with relevant laws & regulations

Question 2

What is Management acoounting?

Answer 2

Managerial accounting is a branch of accounting that is concerned with the identification, measurement, analysis, and interpretation of accounting information so that it can be used to help managers when making necessary decisions to efficiently manage a company’s operations.

Question 3

What is the difference between management accounting & financial accounting?

Answer 3

1. Internal reporting vs Ecternal reporting
2. No financial standards vs Financial standards
3. Report focus
4. Reporting frequency