Accounting
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Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. Accounting measures the results of an organi
Portrait of Luca Pacioli, painted by Jacopo de' Barbari, 1495 (Museo di Capodimonte)
Early 19th-century ledger
Management accounting
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In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions.
Accounting
…accounting" and "financial reporting" are often used interchangeably. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation…
IFAC Definition of enterprise financial management concerning three broad areas: cost accounting; performance evaluation and analysis; planning and decision support. Managerial accounting is associated with higher value, more predictive information. Copyright July 2009, International Federation of Accountants
Managerial costing time line Used with permission by the author A. van der Merwe. Copyright 2011. All Rights Reserved.