Financial accounting focuses on reporting information to external users like investors and creditors to help them make decisions. Managerial accounting focuses on providing information to internal managers to help with planning, controlling and decision making. Financial accounting requires standardized information while managerial accounting information is tailored to specific management needs. Managerial accounting applies to many careers by helping managers analyze costs, profits and other metrics to improve operations. It requires accountants to act with competence, honesty and integrity.

1. ACC 349 Discussion 6
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ACC 349 Discussion 6
• What are some main differences between
financial and managerial accounting? How do
these differences affect the type of
information that must be gathered and
reported? What different types of decisions
must users of financial accounting

2. information make? What different types of
decisions must users of managerial
accounting information make? How does
managerial accounting apply to your career?
What is the code of conduct for managerial
accountants?
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