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What is actually different between the financial account position and management account position?

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Question added by Mohammed Salah , Senior Account , الشركه العربيه الدوليه للصناعات الكهربائيه
Date Posted: 2017/07/23
Muhammad Fahad
by Muhammad Fahad , MANAGEMENT ACCOUNTANT , M.M. GROUP OF COMPANIES (http://mmgroup.pk/)

Financial Accountant normally use to manage the Financial data relating to Banks, Lease, Tax.. Finance related matters recording, Finalization of Financial Positions i.e. Income Statement, Balance Sheet, Cash Flow, Change in Equity & Notes to the Accounts.

In contrast, Management Accountant is normally use to maintain Costing Records of Products, Budgeting, Variance  Analysis, Breakeven, Pricing & Management Reports which helps in taking decisions about products efficiency & effectiveness ....

Regards,

Muhammad Fahad (ACMA | APFA)

Management Accountant

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