Financial and Management Reporting
Financial and management reporting is concerned with the provisions and use of accounting information to managers within organisations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions. The team at The MBA Partnership are well equipped to prepare management accounts for you on a regular basis.
In contrast to financial accountancy information, management accounting information is -
- designed and intended for use by managers within the organisation, whereas financial accounting information is designed for use by shareholders and creditors.
- usually confidential and used by management, instead of publicly reported;
- forward-looking, instead of historical;
- computed by reference to the needs of managers, often using management information systems, instead of by reference to financial accounting standards.
This is because of the different emphasis: management accounting information is used within an organisation, typically for decision-making.
More information?
Geoff Missen, FCA
Director
e gmissen@mbapartnership.com.au
t 07 5557 8700