Accounting Essay Example | Topics and Well Written Essays - 250 words - 17

Accounting - Essay ExampleThere whitethorn be mandatory precise formats and standards for statutory accounts.3. Financial accounting must abide by shape accounting principles that are generally accepted whereas management accounting is basically an estimate, which emanates from the fact that exact figures requisite do not exist every time crucial decisions need to undertaken.4. Financial accounting yields pecuniary accounts usually prepared at the end of a trading period, mostly a year. On the former(a) hand, management accounting yields accounts that are prepared at any time depending on the frequency at which the management requires such accounts.2. Vertical analysis every financial statement line item is denotative as a fraction of another. It helps managers to assess the proportion of an account with respect to other accounts over a particular period.4. Operating budget this enables managers to assess the variances of the budget from actual outcomes. It helps the management t o plan business expenditure for a given period and maximize