2013년 11월 28일 목요일

About 'certified management accountant course'|Career as a Certified Public Accountant (CPA)







About 'certified management accountant course'|Career as a Certified Public Accountant (CPA)








After               years               of               undergraduate               and               postgraduate               study               you               are               now               ready               to               begin               your               career               as               a               California               Certified               Public               Accountant.

However,               before               you               can               practice               as               a               CPA               you               will               need               to               qualify               for,               sit               for,               and               pass               the               California               CPA               Exam.

To               do               this               you               will               need               to               arm               yourself               with               some               basic               information               about               where               and               how               to               apply,               what               to               study,               and               what               to               expect               on               the               test               day.

Luckily               this               article               contains               everything               you               need               to               know               about               taking               the               California               CPA               Exam.

California               Board               of               Accountancy               
               Exam               Unit               
               2000               Evergreen               Street,               Suite               250               
               Sacramento,               California               95815-3832               
               (916)               263-3680               phone               number               
               (916)               263-3675               fax               number               
               www.dca.ca.gov/cba
               Requirements               to               Sit               for               the               California               CPA               Exam
               There               are               few               basic               requirements               that               you               must               meet               in               order               to               qualify               to               sit               for               the               California               CPA               Exam.

Besides               being               18               years               of               age               and               of               good               moral               character,               California               also               has               very               specific               educational               requirements               that               you               must               meet               in               order               to               sit               for               the               California               CPA               Exam.
               First               you               must               have               a               baccalaureate               degree               with               24               semester               hours               of               accounting               courses,               and               24               semester               hours               of               business-related               courses.

Below               are               two               lists               containing               possible               accounting               courses               and               possible               business-related               courses               to               help               give               you               an               idea               of               what               course               qualify.
               Accounting               Subjects
               1.

Accounting               
               2.

Auditing               
               3.

External               or               Internal               Reporting               
               4.

Assurance               
               5.

Bookkeeping               
               6.

Costing               
               7.

Quickbooks               
               8.

Financial               Reporting               
               9.

Financial               Statement               Analysis               
               10.

Taxation               
               11.

Attestation               
               12.

Cost               Analysis               
               13.

Peachtree               
               14.

CPA               Review               Course               taken               at               an               accredited               college               or               university
               Business               Related               Subjects
               1.

Business               Administration               
               2.

Business               Law               
               3.

Business               Related               Law               Course               
               4.

Information               Systems               
               5.

Finance               
               6.

Business               Communication               
               7.

Business               Management               
               8.

Computer               Science               
               9.

Economics               
               10.

Marketing               
               11.

Statistics
               Application               Process
               The               first               step               in               the               application               process               to               sit               for               the               California               CPA               Exam               is               to               create               a               client               account               on               the               California               Board               of               Accountancy's               website:               http://www.dca.ca.gov/cba.

After               you               create               an               account               you               will               be               sent               a               confirmation               email               that               will               provide               you               with               a               password               that               will               allow               you               to               complete               your               application               process               online.

You               will               then               need               to               print,               sign,               and               mail               in               your               application               along               with               your               application               fee               to               the               Board.
               If               you               will               need               testing               accommodations               because               of               a               disability               you               will               need               to               request               accommodations               at               the               time               you               submit               your               application.

You               will               need               to               fill               out               an               accommodation               form,               which               will               be               in               your               application               packet.

You               will               also               need               to               submit               an               application               fee               along               with               your               completed               application               and               supplemental               forms.

To               see               what               the               most               current               application               fees               are               you               will               need               to               visit               the               California               Board               of               Accountancy's               website,               however               to               give               you               an               idea               of               what               to               expect,               the               2006               application               fee               was               $100.

The               California               Board               of               Accountancy               only               accepts               checks               or               money               orders               at               this               time,               and               you               will               need               to               write               your               Unique               Identification               Number               or               Application               Remittance               Form               Number               on               your               form               of               payment               for               proper               processing.
               Keep               in               mind               that               this               packet               will               take               about               30               days               to               evaluate               and               process               before               you               can               go               on               to               the               next               steps.

Deadlines               for               submitting               applications               have               been               eliminated               because               now               testing               is               done               two               months               out               of               every               three               months.

The               only               time               limitation               is               that               you               will               have               only               six               months               to               take               your               exams               after               you               submit               your               application,               so               don't               apply               for               more               tests               than               you               will               be               able               to               successfully               complete               in               a               six               month               period.
               After               the               Board               receives               your               application,               processes               it,               and               approves               you               to               sit               for               the               California               CPA               Exam,               they               will               submit               an               Authorization               to               Test               to               the               NASBA.

NASBA               will               then               invoice               you               for               the               exams               that               you               have               applied               for.

You               will               have               90               days               to               pay               this               invoice               before               your               application               expires               and               you               will               have               to               apply               again.

The               price               for               each               section               of               the               Uniform               CPA               Exam               will               be               vary               year               by               year               so               you               will               need               to               visit               www.nasba.org               to               check               on               the               most               current               rates,               however,               to               give               you               an               idea               of               what               to               expect,               the               2006               NASBA               fees               for               the               Uniform               CPA               Exam               were               as               follows:
               AUDIT               (Auditing               and               Attestation)               $159.25               
               FARE               (Financial               Accounting               and               Reporting)               $148.00               
               ARE               (Regulations)               $125.50               
               LPR               (Business               Environment               and               Concepts)               $114.25
               After               your               payment               is               received               in               full               for               your               exams               you               will               be               sent               a               Notice               to               Schedule.

This               notice               will               contain               scheduling               and               testing               information,               and               it               will               tell               you               what               your               identification               number               is,               and               when               your               scheduling               window               expires.

You               will               have               about               6               months               to               schedule               and               take               all               of               the               exams               that               you               applied               for.
               You               can               schedule               your               exam               anytime               during               the               six               months               that               are               convenient               to               you               as               long               as               the               testing               center               is               open               and               has               space               to               fit               you               in.

It               is               recommended               that               you               register               early               to               ensure               that               you               get               a               testing               space               on               the               days               that               you               want.

Most               testing               centers               are               open               Monday               through               Saturday               during               the               following               windows               of               time:
               January               2               -               February               28               (29)               
               April               1               -               May               30               
               July               1               -               August               31               
               October               1               -               November               20
               There               are               several               ways               in               which               you               can               schedule               your               exam.

First               you               can               call               the               Prometric               Student               Testing               Service               Call               Center               at               1-800-580-9648,               or               you               can               go               to               their               website               at               http://www.prmoetric.com/cpa,               or               you               can               contact               your               local               testing               center.
               Prometric               Testing               Center               
               2412               Central               Avenue               
               Alameda,               CA               94501               
               (510)               521-2843               
               Site               Code:               0067
               1290               Hancock               Street,               Suite               250               
               Anaheim,               CA               92807               
               (714)               695-18001               
               Site               Code:               0081               and               0529
               501               Mobil               Ave,               Suite               D               
               Camarillo,               CA               93010               
               (805)               389-6595               
               Site               Code:               0502
               5601               West               Slauson               Ave,               Suite               110               
               Culver               City,               CA               90230               
               (310)               337-6696               
               Site               Code:               0001,               0591,               and               0002
               Sunset               Village               Shop               Center               
               1241               South               Grand               Avenue,               Suite               F               
               Diamond               Bar,               CA               91765               
               (909)               861-1146               
               Site               Code:               0533
               1045               Redondo               Beach               Blvd               
               Gardena,               CA               90247               
               (310)               329-1844               
               Site               Code:               0596
               701               N.

Brand               Blvd,               Suite               210               
               Glendale,               CA               91203               
               (818)               246-8023               
               Site               Code:               5815               and               5863
               Stone               Creek               Plaza               
               4330               Barranca               Pkwy.

Suite               208               
               Irvine,               CA               92614               
               (949)               552-0563               
               Site               Code:               9035
               7365               Carnelian               Street,               Suite               107               
               Rancho               Cucamonga,               CA               91730               
               (909)               466-5136               
               Site               Code:               0531
               413               East               Palm               Ave               
               Redlands,               CA               92373               
               (909)               792-2145               
               Site               Code:               0556
               Almond               Orchid               
               11733               Fair               Oaks               Blvd               
               Sacramento/Fair               Oaks,               CA               95628               
               (916)               961-7323               
               Site               Code:               0508               and               0053
               8380               Center               Drive,               Suite               A               
               San               Diego,               CA               91942               
               (619)               668-2121               
               Site               Code:               0510
               Sorrento               Plaza               
               6755               Mira               Mesa               Blvd.


               San               Diego,               CA               92121-4311               
               (858)               526-0858               
               Site               Code:               0550               and               0440
               100               California               Street,               Suite               104               
               San               Francisco,               CA               94111               
               (415)               362-1311               
               Site               Code:               5869               and               5849
               4030               Moorpark               Ave,               Suite               280               
               San               Jose,               CA               95117-4103               
               (408)               246-0072               
               Site               Code:               0047,               0014,               and               0008
               1360               North               Dutton               Street,               Suite               100               
               Santa               Rosa,               CA               95401               
               (707)               579-5163               
               Site               Code:               0515
               400               Oyster               Point               Blvd,               Suite               101               
               South               San               Francisco,               CA               94080               
               (650)               244-9558               
               Site               Code:               5481               and               0066
               Once               you               have               your               tests               scheduled               you               will               be               ready               to               study               for               the               computerized               Uniform               CPA               Exam.
               What               You               Need               to               Know               About               the               Computerized               Uniform               CPA               Exam
               AUD               will               last               4.5               hours               
               FARE               will               last               4.0               hours               
               ARE               will               last               3.0               hours               
               LPR               will               last               2.5               hours
               If               you               plan               on               taking               the               Auditing               and               Attestation               (AUD)               section               of               the               Uniform               CPA               Exam               then               you               will               want               to               study               the               following               information:
               1.

Auditing               Procedures               
               2.

Generally               Accepted               Auditing               Standards               
               3.

Other               Standards               That               Are               Applicable               to               Attest               Engagements               
               4.

Planning               the               Engagement               
               5.

Internal               Controls               
               6.

How               to               Obtain               and               Document               Information               
               7.

How               to               Review               Engagements               and               Evaluate               Information               
               8.

How               to               Prepare               Communications
               If               you               plan               on               taking               the               Financial               Accounting               and               Reporting               Section               (FARE)               of               the               Uniform               CPA               Exam               then               you               will               want               to               study               the               following               information:
               1.

Generally               Accepted               Accounting               Principles               for               Business               Enterprises               
               2.

Generally               Accepted               Accounting               Principles               for               Not-For-Profit               Enterprises               
               3.

Generally               Accepted               Accounting               Principles               for               Government               Entities               
               4.

Concepts               and               Standards               for               Financial               Statements               
               5.

Know               What               Items               Are               Commonly               Found               on               Financial               Statements               
               6.

Know               How               to               Account               For               and               Report               Various               Transactions
               If               you               plan               on               taking               the               Regulation               Section               (ARE)               of               the               Uniform               CPA               Exam               then               you               will               want               to               study               the               following               information:
               1.

Federal               Taxation               Procedures               and               Regulations               For               Individuals               
               2.

Professional               Ethics               
               3.

Professional               Legal               Responsibilities               
               4.

Applicable               Business               Laws               
               5.

Federal               Taxation               Procedures               and               Regulations               For               Entities               (Both               For-Profit               and               Not-For-Profit)
               If               you               plan               on               taking               the               Business               Environment               and               Concepts               Section               (BEC)               of               the               Uniform               CPA               Exam               then               you               will               want               to               study               the               following               information:
               1.

Business               Structures               
               2.

Economic               Concepts               
               3.

Financial               Management               Issues               
               4.

Information               Technology               
               5.

Planning               and               Measuring               
               6.

Reasoning               Used               as               a               CPA
               Format               of               the               Uniform               CPA               Exam
               The               Uniform               CPA               Exam               has               recently               been               transitioned               from               a               paper               and               pencil               exam               to               a               computerized               exam.

Because               of               this               transition,               the               format               of               the               exam               has               also               evolved.

Each               section               will               consist               of               multiple               choice               testlets               comprised               of               24               to               30               questions.

Each               testlet               will               then               be               supplemented               with               a               case               study               called               a               simulation.

You               will               be               given               30               to               50               minutes               to               complete               each               simulation.

The               simulations               will               test               your               ability               to               perform               entry               level               CPA               tasks.
               Study               Tips
               Studying               for               the               Uniform               CPA               Exam               will               be               quite               an               undertaking,               as               you               will               be               tested               on               six               years               of               college               level               education.

To               help               you               with               this               process               it               is               highly               recommended               that               you               enroll               in               some               type               of               CPA               Exam               Preparation               Course               offered               by               a               college               or               university.

However,               this               is               not               mandatory,               and               there               are               many               high               quality               self-study               CPA               Exam               Review               Courses               available               to               you.
               You               can               also               utilize               the               study               materials               provided               by               the               testing               board,               including               an               exam               tutorial               that               is               offered               on               the               following               website:               http://www.cpa-exam.org/lcr/exam_tutorial.html.

This               tutorial               will               offer               you               many               great               tools               for               passing               the               Computerized               Uniform               CPA               Exam.

First               this               website               will               offer               you               an               explanation               on               how               the               test               is               designed               and               what               subjects               it               will               cover.

It               will               also               review               what               types               of               questions               you               will               be               asked               to               answer,               and               what               types               of               responses               they               are               looking               for.

Finally,               you               will               be               able               to               run               through               a               few               sample               questions               and               one               case               study,               so               you               can               practice               taking               a               computerized               exam.
               In               addition               to               taking               a               CPA               Exam               Review               Course,               and               using               the               exam               tutorial,               it               is               also               highly               recommended               that               you               know               the               following               information               before               you               sit               for               the               CPA               Exam:
               1.

Be               familiar               with               spreadsheets,               and               be               able               to               use               them.

You               will               also               need               to               know               how               to               write               spreadsheet               formulas               that               will               calculate               columns               and               rows,               as               well               as               calculate               other               financial               computations.
               2.

You               will               also               be               expected               to               know               how               to               use               a               four-function               calculator               to               derive               standard               financial               calculations.
               3.

You               will               need               to               be               familiar               with,               and               be               able               to               utilize               information               contained               in               online               authoritative               literature.

You               may               want               to               practice               this               skill               at               home,               by               accessing               these               authorities               and               looking               for               specific               rules,               regulations,               and               standards               that               apply               to               test               review               questions.
               4.

Study               the               Internal               Revenue               Code               and               Federal               Tax               Regulations               that               were               in               effect               6               months               prior               to               your               exam.

You               can               find               this               information               at               the               IRS's               website:               http://www.irs.gov.
               5.

Know               the               Sarbanes-Oxley               Act               of               2002               as               it               will               be               used               throughout               the               exam.
               6.

AICPA               Standards               will               also               be               used,               so               know               them               and               how               they               are               applied               to               different               situations.
               7.

Learn               and               memorize               federal               laws               that               relate               to               accounting               and               reporting
               What               to               Expect               on               the               Test               Day
               On               the               day               of               your               exam(s)               you               will               want               to               arrive               early,               at               last               30               minutes               earlier,               so               you               can               check               in               and               get               situated               before               you               begin               testing.

You               will               need               to               provide               two               forms               of               personal               identification               that               has               both               your               signature               and               your               photograph               on               it.

For               example               a               valid               drivers               license               and               a               valid               passport               are               both               accepted               forms               of               id.
               After               you               have               been               checked               in               you               will               be               assigned               a               computer               and               given               instructions.

Begin               to               test               only               after               you               have               been               given               permission               to               do               so.

Do               not               cheat,               or               act               disruptive,               as               these               actions               can               get               you               expelled               from               the               testing               center,               and               perhaps               even               prohibited               from               taking               the               CPA               Exam               again.
               Your               scores               will               be               made               available               to               you               as               soon               as               they               are               ready,               but               expect               4               to               6               weeks               to               pass               before               hearing               anything.

If               you               have               any               questions               about               when               and               where               your               scores               will               be               made               available,               contact               nasba.org.






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    2013년 11월 27일 수요일

    About 'chartered management accountants'|Chartered Accountants and the Battle of Manitoba







    About 'chartered management accountants'|Chartered Accountants and the Battle of Manitoba








                   Several               studies               have               shown               that               investing               at               a               young               age               pays               off               and               can               help               children               understand               complex               financial               decisions               better.

    CNBC               recently               highlighted               how               new               games               are               targeting               children               to               teach               them               about               investing               and               saving.

    There               is               a               movement               to               make               financial               lessons               a               part               of               every               child's               education.
                   Eileen               Reid,               a               teacher               from               Maryland,               explains               that               she               uses               the               JA               Finance               Park               Virtual               game               in               her               lesson               plans.

    Students               learn               about               finances,               budgets,               savings               and               bills               as               they               go               through               the               online               program.

    Learning               about               investing               at               a               young               age               can               lead               some               of               them               to               pursue               careers               in               this               field.

    Tom               Dyson,               a               contributor               to               "The               Palm               Beach               Letter,"               is               one               example               of               how               investing               can               become               a               lifelong               pursuit.

    Dyson               bought               his               first               stock               at               the               age               of               11,               and               this               early               investment               sparked               his               interest               in               finances.

    He               went               on               to               graduate               from               the               University               of               Nottingham               and               joined               the               Chartered               Institute               of               Management               Accountants.

    The               stocks               he               bought               at               11               led               Dyson               to               eventually               work               at               Salomon               Brothers,               Citigroup               and               to               write               "The               12%               Letter."
                   Reid               explains               that               giving               children               access               to               games               and               tools               that               teach               them               about               investing               is               crucial               to               building               an               early               understanding               of               financial               markets.

    This               allows               them               to               be               better               prepared               to               handle               their               own               bills               and               investments               once               they               grow               up.

    Tom               Dyson               mentions               that               education               does               not               stop               once               you               are               out               of               school,               so               he               has               dedicated               his               time               to               writing               books               and               articles               that               help               adults               stay               ahead               of               changes               in               the               financial               markets.

    Dyson               explains               that               the               stock               market               can               provide               valuable               lessons               about               the               world               that               can               be               useful               for               young               investors.

    CNBC               points               out               that               fighting               financial               ignorance               is               something               schools               are               starting               to               recognize               as               an               important               part               of               the               curriculum.

    Before               children               graduate               from               high               school,               they               need               to               have               the               chance               to               learn               about               handling               their               own               finances               effectively.






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    2013년 11월 26일 화요일

    About 'management accounting financial accounting'|Nonprofit Accounting and Financial Management







    About 'management accounting financial accounting'|Nonprofit Accounting and Financial Management








                   Memorandum
                   TO:               Susan               Thompson,               Assistant
                   FROM:               Lela               Keel,               EEC               Financial               Analyst
                   DATE:               January               07,               2011
                   SUBJECT:               Financial               Accounting               and               Managerial               Accounting
                   Both               financial               accounting               and               managerial               accounting               will               play               a               role               in               putting               together               financial               information               for               Eddison               Electronics               Company               (EEC).

    They               will               both               have               the               same               usage               which               is               to               prepare               and               analyze               financial               data               related               to               the               company.

    The               purpose               of               both               of               these               accounting               methods               is               to               provide               the               users               with               enough               information               to               make               sound               economic               decisions               regarding               the               company.

    Therefore,               both               of               these               accounting               methods               will               be               very               important               in               determining               the               financial               status               of               the               company.
                   The               related               reports               found               in               financial               accounting               will               serve               to               communicate               economic               data               specifically               to               individuals               who               are               external               to               the               company               that               have               concerns               regarding               the               operations               of               the               business.

    Conversely,               the               related               reports               found               in               managerial               accounting               will               focus               on               providing               financial               information               to               those               within               the               company               who               are               responsible               for               making               decisions               related               to               the               operations               of               the               business               (Atkinson,               Kaplan,               Matsumura,               &               Young,               2007).

    Also,               apart               from               the               intentional               viewers,               both               of               these               accounting               methods               will               differ               as               it               related               to               their               purpose,               reporting               frequency,               report               generation,               aggregation               level,               regulations               set               forth,               and               attribute               knowledge               of               each               (Garrison,               Noreen,               &               Brewer,               2010).
                   Financial               accounting               will               utilize               historic               economic               data               to               communicate               the               well-being               of               the               company's               performance               as               a               whole.

    This               will               provide               the               external               viewers,               such               as               creditors               or               lenders,               with               specific               data               related               to               the               performance               of               the               company               so               that               they               can               make               appropriate               conclusions               on               whether               to               make               investments               in               the               business               or               lend               money               to               the               company               for               business               operations.

    Potential               investors               or               lenders,               such               as               banks,               will               use               the               financial               accounting               reports               of               the               company,               like               the               statement               of               income,               balance               sheet               statement,               and               cash               flow               statement               to               understand               how               well               we               are               doing               as               it               relates               to               performance.

    The               necessary               performance               data               of               the               company               being               looked               at               will               be               the               liquidity,               profitability,               asset               activity,               market               value,               and               debt               ratios.

    This               data               will               provide               the               viewers               with               an               accurate               look               into               the               financial               standing               of               the               company,               as               well               as               the               company               capabilities               to               perform               (Atkinson,               Kaplan,               Matsumura,               &               Young,               2007).
                   As               previously               stated,               the               external               views               with               concerns               related               to               the               operations               of               the               business               will               rely               on               financial               data               about               the               company               to               make               decisions.

    In               making               these               decisions               they               will               examine               the               data               in               combination               with               economic               information               general               to               the               company,               such               as               information               about               the               industry               in               which               the               company               functions.

    The               external               viewers               will               have               a               broad               focus               on               data               related               to               the               performance               of               the               entire               company.

    In               addition,               the               financial               accounting               process               will               only               report               the               financial               dealings               of               the               company               that               have               taken               place               in               the               past               (Accounting               for               Management,               2009).
                   Managerial               accounting               will               present               the               financial               data               necessary               to               internal               members,               such               as               managers,               executives,               or               employees,               of               the               company               who               want               to               continually               improve               the               operations               of               the               business.

    This               financial               data               will               allow               them               to               make               informed               decisions               regarding               the               operations               of               the               business,               such               as               with               the               processes               or               products               we               present.

    Even               though               this               financial               historic               data               will               be               utilized               to               aid               in               the               process               of               decision               making               and               for               understanding               the               operations               of               the               business,               the               information               found               in               managerial               accounting               will               also               be               accumulated,               collected               and               applied               to               the               process               of               decisions               making               in               regards               to               the               current               operations               of               the               company,               as               well               as               planning               for               the               future               and               creating               and               controlling               the               budget               of               the               company.

    Continuous               inflow               of               cost               data               related               to               the               production               of               the               company               will               aid               internal               viewers               when               they               need               to               develop               and/or               change               the               lines               of               products               the               company               produces,               such               as               when               new               technologies               become               available               in               which               the               operations               or               production               costs               of               the               company               could               be               continually               impacted               or               influenced               by               external               markets.

    Also,               having               detailed               cost               of               products               the               company               manufactures               can               offer               a               basis               for               making               effective               pricing               decisions               (Atkinson,               Kaplan,               Matsumura,               &               Young,               2007).
                   As               previously               stated,               the               financial               statement               report               information               related               to               the               company               will               be               reviewed               by               internal               views               to               make               informed               decisions               about               the               business               operations.

    These               internal               viewers               will               also               use               company               information               that               is               non-financial,               such               as               satisfaction               related               to               our               customers,               and               data               related               to               our               competitors.

    Additionally,               the               process               of               managerial               accounting               will               concentrate               on               present               and               past               information               regarding               the               financial               status               of               the               company,               as               well               as               the               future               forecasting               of               the               financial               dealings               that               the               company               anticipates               (Accounting               for               Management,               2009).
                   The               different               types               of               reports               found               in               the               managerial               accounting               process               that               might               be               expected               to               be               presented               within               the               company               are               departmental               budgets               and               main               budgets               for               the               upcoming               period               of               operation,               the               company's               process               reports               as               it               relates               to               our               budget               on               processing               specific               products               in               relation               to               data               cost               and               analysis,               and               non-financial               data               reports               that               are               used               to               communicate               the               successfulness               of               areas               such               as               satisfaction               among               customers               and               data               related               to               our               competitors.

    Also,               the               managerial               accounting               process               will               use               qualitative               data,               in               addition               to               quantitative               data.

    The               significance               of               including               and               giving               out               this               data               is               obvious               when               thinking               about               the               many               factors               that               would               be               essential               to               keeping               up               the               production               of               the               products               manufactured               by               us,               particularly               if               we               fail               in               delivering               quality,               on-time               service               to               our               customers               (Managerial               Accounting,               n.d.).
                   Another               difference               in               the               practices               of               managerial               and               financial               accounting               is               the               data               reporting               frequency               essential               to               each.

    The               period               of               financial               accounting               is               consistently               reported,               usually               on               an               annual               or               quarterly               basis.

    The               reports               of               managerial               accounting               are               typically               produced               on               an               as               needed               basis               in               order               to               appropriately               plan               and               control               the               operations               of               the               company.

    Also,               managerial               accounting               reports               will               cover               a               set               time               period               so               that               relevance               can               be               given               to               those               individuals               who               need               to               apply               and               use               this               information               to               appropriately               plan               and               control               the               continuing               operations               of               the               company.

    For               instance,               as               the               company               attempts               to               advance               the               timely               production               of               the               products               we               manufacture,               a               report,               such               as               weekly               or               monthly,               may               be               produced               to               compare               production               times               of               the               past               with               possible               changes               in               the               company's               future               performance.

    Similarly,               in               the               company's               attempt               to               operate               while               utilizing               a               defect               policy               of               zero,               managers               may               call               for               a               daily               report               of               progress               on               the               defective               units               we               produce               so               that               problems               area               can               be               readily               identified               and               immediately               addressed.

    With               that               being               said,               the               process               of               financial               accounting               will               center               on               the               past               data               and               financial               dealings               of               the               company               being               consistent               and               reliable               while               the               process               of               managerial               accounting               will               center               on               the               significance               and               appropriateness               of               the               different               processes               of               our               products               so               that               managers               can               make               decisions               while               using               anticipated               data               so               that               any               issues               can               be               spotted               and               directly               addressed               (Garrison,               Noreen,               &               Brewer,               2010).
                   The               financial               accounting               reports               of               the               company               must               be               created               to               comply               with               the               Generally               Accepted               Accounting               Principles               (GAAP)               and               they               are               regulated               by               the               Securities               and               Exchange               Commission               (SEC).

    This               is               done               to               ensure               that               all               interests               related               to               the               investments               of               the               company's               activities               are               protected.

    In               contrast,               management               accounting               is               not               enforced               to               comply               with               any               regulations               and               is               standardized               only               by               theories               of               ethics.

    This               is               because               the               information               presented               by               management               accounting               is               proposed               for               internal               viewers               and               is               not               available               to               the               public               like               the               information               presented               in               financial               accounting               (Accounting               for               Management,               2009).

    Regulations               relative               to               reporting               managerial               accounting               will               be               set               by               management               of               the               company               so               that               the               content               can               be               used               to               make               informed               decisions               regarding               the               operations               of               the               business.

    Managerial               accounting               is               like               a               tool               for               planning               the               operations               of               the               business               strategically               by               collecting               data               to               be               used               by               management               or               other               viewers               to               plan,               organize,               staff,               direct,               and               control               the               organizational               activities               of               the               business               In               addition,               managerial               accounting               will               be               more               collective               in               gathering               reports               associated               with               operating               the               business.

    These               reports               will               include               the               different               departments               of               the               company,               as               well               as               the               different               products               we               manufacture               in               order               to               be               able               to               make               proper               decisions               regarding               the               operations               of               the               business               (Garrison,               Noreen,               &               Brewer,               2010).
                   To               conclude,               financial               accounting               is               about               reporting               statistical               financial               numbers               while               managerial               accounting               involves               generating               reports               for               making               appropriate               decisions               to               achieve               optimal               results               regarding               the               company's               performance.

    Moreover,               the               data               included               in               financial               accounting               is               reported               sporadically,               but               at               a               minimum               the               company               must               report               it               annually.

    Conversely,               the               reporting               period               of               managerial               accounting               must               be               continual               to               examine               the               past,               present,               and               future               of               the               company's               performance               so               that               the               decision               making               process               can               be               enhanced               to               ensure               financial               success               of               the               business               (Accounting               for               Management,               2009).

    Even               though               there               are               many               differences               between               financial               accounting               and               managerial               accounting               they               are               still               both               critical               to               the               continuing               success               of               the               operations               of               the               company.

    Therefore,               in               my               opinion,               financial               accounting               and               managerial               accounting               will               be               two               main               branches               of               accounting               that               the               company               must               utilize               in               order               to               determine               the               financial               health               of               the               company.

                   References
                   Accounting               for               Management.

    (2009).

    Financial               accounting               vs.

    managerial               accounting               -               differences               between               financial               and               managerial               accounting.

    Retrieved               from               http://www.accountingformanagement.com/financial_accounting_vs_managerial_accounting.htm
                   Atkinson,               A.,               Kaplan,               R.,               Matsumura,               E.,               &               Young,               S.

    (2007).

    Management               accounting.

    (5th               ed.).

    Upper               Saddle               River,               NJ:               Pearson-Prentice               Hall.
                   Garrison,               R.,               Noreen,               E.,               &               Brewer,               P.

    (2010).

    Managerial               accounting,               (13th               ed.).

    New               York,               NY:               McGraw-Hill               Irwin.
                   Managerial               Accounting,               (n.d).

    Retrieved               from               http://www.cpafinder.com/accounting/managerial-accounting.html






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