What’s the difference between financial accountant and management accounting?

[Elgin]

Put as simply as possible management accounting is Internal accounting i.e. providing reports etc for internal managers.  Financial accounting is External accounting i.e. providing reports for persons and bodies outside the business (e.g. investors, press, public bodies and the good old tax man).  Financial accounting has to be done in accordance with strict rules whereas management accounting can produce the numbers that the business manages want to see in a format they want.

[Tetley]

now i am confused  in fact i think i am" Bi accountable"        think i am off in the shed to listen to the village people on 45   

[Angleseyite]

Your financial accountant is there to keep the Inland Revenue and any external stakeholders happy. By recording financial information at the end of the year. A financial accountant focuses on tax.

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[morganreach]

Your financial accountant is there to keep the Inland Revenue and any external stakeholders happy. By recording financial information at the end of the year. A financial accountant focuses on tax.