DECISION MAKING AND_THE_ROLE_OF_ACCOUNTING

Accounting Fundamentals In Society
ACCY111
DECISION MAKING AND_THE_ROLE_OF_ACCOUNTING


 Management and financial accounting
 Career paths in accounting
 Accounting as a profession – Australian Perspective


MANAGEMENT ACCOUNTING


 Area of accounting concerned with providing financial and other
information to all levels of management in an organisation

 Management accountants

 Used in all forms of organisations:
• for‐profit and not‐for‐profit organisations
• sole traders
• partnerships
• companies
• governments
• charities


FINANCIAL ACCOUNTING

 Concerned with reporting information to users external to an entity
 Helps external users to make sound economic decisions
 Reflect the entity’s performance and financial position.
 Financial Accountants
• Management and financial accounting
• Differences between management accounting and financial accounting:
• Management and financial accounting
Differences between management accounting and financial accounting:
• Public Accounting