Editing Management accounting (section)

==Financial versus Management accounting==
{{More citations needed|date=March 2017}}
Management accounting information differs from [[financial accountancy]] information in several ways:
* while shareholders, creditors, and public regulators use publicly reported financial accountancy, information, only managers within the organization use the normally confidential management accounting information
* while financial accountancy information is historical, management accounting information is primarily forward-looking<ref>{{Cite book|url=https://books.google.com/books?id=q5q2BgAAQBAJ&pg=PA49|title=BASIC CONCEPTS OF ACCOUNTING|last=Ladda|first=R. L.|publisher=Lulu.com|isbn=9781312161306|language=en}}{{self-published source|date=February 2020}}</ref>{{self-published inline|date=February 2020}};
* while financial accountancy information is case-based, management accounting information is model-based with a degree of abstraction in order to support generic decision making;
* while financial accountancy information is computed by reference to general financial accounting standards, management accounting information is computed by reference to the needs of managers, often using [[management information system]]s.
Focus:  
* Financial accounting focuses on the company as a whole.
* Management accounting provides detailed and disaggregated information about products, individual activities, divisions, plants, operations and tasks.