Differences Between Funds Flow Statement and Balance Sheet The following table presents 14 points of differences between funds flow statement and balance sheet. Funds flow statement Balance Sheet
Differences between Cost Accounting and Management Accounting Management accounting and Cost accounting differ from one another. This article lists out 15 such differences as follows. The following article
Before discussing about differences between financial accounting and management accounting, it is worthwhile to discuss about the similarities between financial accounting and management accounting. Similarities between Financial &
Management Accountant is an important person in every aspect of an organization. He plays a vital role in framing the policy and fixing procedures, preparation of budgets, determination
Steps in installation of Management Accounting System The following steps have to be taken by the top management to install efficient and effective Management Accounting System. 1. Preparation
The functions of management accountant depend upon his status in the organization, agreement with the organization, experience and capacity of the management accountant. On this basis, the functions
Meaning of Inter-Firm Comparison Inter firm comparison means a comparison of two or more similar business units with the objective of finding the competitive position to improve the
Understanding Sales budget In every organization, sales budget is the principal budget. Hence, all other budgets are prepared on the basis of sales budget. The sales budget is
What are the elements of successful budgeting? The following elements are necessary for successful budgeting. 1. Accurate Forecasting The business activities may be forecasted accurately to some extent.
Understanding Budget Period Before preparing a budget, the organization should decide the budget period. The budgeting must be related to a specific period of time. There is no