Management vs financial accounting, internal vs external reporting and the role of the accountant

What this note covers

1. Two branches of the same information system
2. Internal users and external users
3. Why financial accounting is regulated and management accounting is not
4. Types of financial statements and types of reports
5. The role and function of the accountant
6. Worked scenario: one business, two accounting jobs
7. How this topic is examined

7 sections · 12 key terms & formulas · 6 common mistakes