Urgent !!! accountng question

一時之間要諗六個出黎, 真係難左D
好在本書未扔, 專登幫您搵返~希望幫到你^^

*M acc = management accounting, F acc = financial accounting

1) Purpose
M acc use for decision making while F acc use to communicate financial position to outsiders.

2) Primary Users
M acc --> Internal managers, F acc --> External users

3) Focus
M acc --> focus on future, F acc --> focus on the past

4) Rules
M acc --> do not have to follow GAAP, using cost vs benefit (CVP)
F acc --> need to follow accounting standard like HKAS, HKFRS, GAAP, etcs

5) Time Span
M acc ---> Ultra current to very long time horizons (no specific)
F acc --> regular reporting time span, like yearly, quarterly reports

6) Behavioral Issues
M acc --> designed to influence employees' behavior
F acc --> Indirect effecs on employees' behavior