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- Accounting and financial management are related but distinct concepts12. Here are the key points:
- Accounting involves identifying, measuring, processing, classifying, and recording financial transactions.
- Financial management focuses on the effective and efficient management of finances and economic resources1.
- Managerial accounting provides financial and non-financial decision-making information to managers34.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Accounting is more about identifying, measuring, processing, classifying, and recording financial transactions, whereas financial management involves the effective and efficient management of finances and economic resourceswww.educba.com/accounting-vs-financial-manage…Finance management merges management and accounting, using the financial management cycle to create strategic plans for clients.www.coursera.org/articles/finance-managementOne simple definition of management accounting is the provision of financial and non-financial decision-making information to managers. In other words, management accounting helps the directors inside an organization to make decisions. This can also be known as Cost Accounting.en.wikipedia.org/wiki/Management_accountingManagerial accounting involves identifying, measuring, analyzing, interpreting, and communicating financial information to managers to help them set an organization's goals.www.investopedia.com/ask/answers/041015/how-d… - People also ask
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