Doctor Accounting : Chapter 2 in Collaboration with SAA Global Education

Do you know what is the difference between Management Accounting and Financial Accounting?

Watch Dr Accounting chapter 2 to learn more about the world of Accounting with us!

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Video Transcript

Hi, welcome to Doctor Accounting chapter two.
In this series, many students actually ask what are the difference between Management Accounting and Financial Accounting.
Management accounting is very much for internal use. It is for management to make an informed decision.
The format of the structure very much depends on the industry.
For financial accounting, it is for external use. It is for stakeholders to make a decision on a company to invest.
Very much is for statutory reporting. Companies actually adopt the financial reporting standard in terms of the structure and the format of the report.
I will see for my next chapter which I’m going to touch on an interesting topic. Stay tuned!