Essay 1

Financial management or Financial Accounting

        Have you ever thought what is the differnece between financial management and 

financial accounting ? one person idea of what is the difference betweeen those two concepts

 

may be differ from a person to another. There are a three differences  existed between 

financial management and financial accounting in meaning ; orientation , and objecives.

       First, there are a difference meaning between fianancial management and financial 

accounting.Financial management is managing  the finances and investments of different 

individuals, organizations, and other entitie.Conversely, in financial accounting is 

 

 about recording, maintaining, and reporting the company’s financial affairs. So, there are a 

 lot of differents between those concepts.

        Second, the second difference between financial management and accounting 

management is orientation. Financial management has future oriented on the other hand,

accounting management has historical in nature and financial  accounting is oriented toward 

the  creation of financial statements, which are distributed both within and outside of a 

company. Managerial accounting is more concerned with operational reports, which

 are only distributed within a company.

       Third, the third difference between financial management and accounting 

Management is about objectives. Financial management objective  for internal

management’s use in planning and decision making detailed information on various 

matters in contrast, financial accounting goals is to create periodical reports .so; the

 main objectives of financial accounting are to disclose the end results of the business, and

 the financial condition of the business on a particular date.

         To  sum up, there are three major differences between financial management and 

financial accounting are meaning , orientation, and objectives. People has the right to choose

 between those two important concepts , Any field is no less important than the other, Both 

are very importatnt for economic and finance.