Financial Accounting vs. Managerial Accounting

This video highlights some of the key differences between Financial Accounting and Managerial Accounting.
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[@kristoferho7288]

My Accounting ACCT 205 Professor from University of Kansas recommended this video to review for the exams and the final exam $$$$$

[@Edspira]

Great. Good luck on your exam!

[@nikkidaviscptaasbasah2731]

OMG I'm taking an online class and I was just not putting the information together and then I found this video...Thank you sooo much. You saved me. NIkki

[@Overlord277]

I don't have an accounting degree or any business degree. This has been very helpful in my accounting job. Been in it for 4 months and I hope I can stay here.

[@cureluvkatz]

I'm so glad I found your site! You make managerial accounting so much more interesting. 👏

[@Edspira]

Thank you for your kind words!

[@andykwong5699]

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[@stidhamhimer]

Thanks for your overall dedication to these lectures. I'll often click on your videos, even if they aren't exactly what I'm searching for, and will still end up getting the answer I need.

[@chaoliu7255]

you teach more vividly than my lecturer does

[@Edspira]

lol

[@moizmohsin2499]

Yepp her teaching is good but she gives too much info which makes it hard to understand

[@zanam8537]

I'm really worried about my exam.. this video really help me a lot.. thanks for uploading :)

[@jamieheiney4290]

Great video! You really explain the topic clearly and it is enjoyable to watch!

[@drewnealski969]

a BIG help as an intro to this class.

[@Edspira]

Thanks man! I'm glad you found it useful and I hope your class goes great!!

[@margaretmwangi515]

I have a managerial accounting C.A.T next week...and i bet this video will help

[@Nashlash]

THAAAANK YOU!! i'm watching UR vids the night before a crucial exam! :P

[@msrtrini]

Well done thank you so much. Iam ready for that question in today's exam.

[@LegalPractitionersGuide]

It's a great service for accounting students and it's clearly explaine. Well done keep it up

[@MyFinancialFocus]

Love managerial accounting because it’s applicable to personal finance as well.

[@LifeLeverage-iu6qb]

Really appreciating from South Korea!

[@Andybwc]

Pretty clear and neat. Very good work.

[@jax9466]

I take my CMA exam in three weeks! It’s been a lot of studying and hard working but I know it will pay off.

[@romeshkirpalani848]

Beautiful...thank you for illuminating my mind..

[@Rawan-tk7tq]

Thanks for the video it is full with information in a very clear easy way to manage through

[@sharminhossain457]

thank you so much sir....this is so much easier to understand

[@lokeshganta1663]

Greatly explained. Loved it!!

[@Edspira]

Glad you liked it!

[@cemoguz7185]

Sir, you are great, thank you!

[@rosmaryalgarin9292]

thanks for everything is so clear and complette advice

[@tanianoorda9964]

This is was very awesome!! I am new to this subject and I love how I can pause and take notes. This is very helpful, even to a dummy like me. LOL

[@Edspira]

Hang in there, you'll do great!

[@MsSuperspirit]

It helps a lot thanks 😊

[@joshuamanampiu6489]

These videos are really helpful. Thank You

[@Edspira]

Thanks Joshua!

[@jimmymoody9595]

Brilliant explanation. Thank you.

[@Edspira]

No problem!

[@hangbuithile4160]

Thank you very much.

[@Phl3xable]

thanks friend, very helpful

[@xxx0ox0]

thank for the upload

[@danqal89]

I simply loved accounting more & more because of you #love_respect #Iraq

[@yoshinegus4019]

Nice Video! Segment requirements exist for Financial as well if the segment is big enough.

[@GaulibHaidar]

excellent!

[@leannemartis7180]

For someone researching into Kaplan and Norton, saying it isn't required as much hurts a little haha. (But I understand your point and why you are saying it and in what context)

[@diva381243]

extremely helpful thank you so much, God bless you!!!!!!!!!!!!!!!!!!!!

[@harshilsakariya9697]

Thanks

[@milangeloranara1664]

This was helpful

[@Wisdombluetooth]

Very nice thx!!

[@jhuntijoymiraclebuizon8837]

Thanks a lot.

[@helptarzan]

thank you so much for clear and easy explanations! i feel very lucky that i could found your lectures

[@aymanaoun6824]

At first you said that Managerial Accounting is not required, but later in your explanation I really couldn't come up with an example where a firm can go one and function without managerial accounting. Would you mind helping me understand why Managerial Accounting is not required ? Awesome video! It helped me a lot.

[@Edspira]

You are correct that managerial accounting serves an extremely important role for firms. Even nonprofit organizations use budgets and compare how their different departments are functioning with some basic managerial accounting principles. Managerial accounting isn't required in the sense that it isn't regulated. There's no outside organization that is requiring the use of managerial accounting. I would say that most companies use some aspects of managerial accounting, and in industries such as manufacturing, managerial accounting is heavily used. Thanks for watching!

[@aymanaoun6824]

God bless you mate! Thanks a lot!!

[@aravindbalasubramanian3964]

brilliant !

[@liamaubrey4303]

Good video, wondering if some of these same rules/laws are the same in the 🇬🇧

[@emperoroffinance7496]

love it!

[@lavishventure4880]

Edspira which is more in demand? Which will offer greater knowledge on how to run a company? Great vid! 🙂

[@dioleonwolf9577]

This book I’m reading has 34 chapters, it takes me 30 minutes to read 1; I wake up at 9:00am and sleep at 10:00pm. I spend 2 hours doing my afternoon walk. Now using all this information, how many days would it take me to finish reading the book?

[@HarmanSingh-ou6ws]

nice work :)..if i ask you FOUR main areas of management accounting which make it different to financial accounting. what those 4 main areas would be ? .. why businesses consider paying attention on managerial accounting side ? ..why not just overall financial accounting...could you name those 4 areas pls ? thanks

[@atikkathanioka7070]

Anyone knows what equipment needed to make this video? How to make this kind of video?

[@6786518995]

Please tell me what kind of software/app you are using and whats the hardware(pc, mac, tablet, ipad) Thank you for the video veryy precise. I want to use it as teaching aids for my college accounting study group.

[@Edspira]

6786518995 I use a Wacom Bamboo tablet, Camtasia screenrecording software, and Smoothdraw. Best wishes

[@sohaibahmed226]

Would stockholder be example of mangerial accounting since they are part owner of business. Had a question in that in assignment

[@sohaibahmed226]

They are financial accounting got that by now.

[@markus4595]

What if you can do both? What's the combination of managerial and financial accounting?

[@Edspira]

Most companies do both managerial and financial accounting. They simply have very different purposes.

[@markus4595]

I realize that, but I meant a single person undertaking the whole shebang. Just like a Mechatronics Engineer is the combination of Mechanical, Electronical and Computer engineering.

[@Edspira]

For smaller companies they do. Smaller companies will have 1-2 accountants that will work on financial accounting, managerial accounting, and typically do the taxes. Once the company grows in size it's easier for the accountants to specialize in an area.

[@markus4595]

Cool, thanks for the info.

[@whatcanisay3862]

I like your voice ❤

[@Edspira]

Thank you 😍

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WOW what a cheater Jeniece. It's pretty sad that you cannot write your own Essay. Way to go girl!

[@pankajupadhay827]

sir plz tell me what is the difference between financial account and management accounting? if i write this points on this question is it right or wrong .

[@abd.tjuliano5829]

what is GAAP?

[@fatimatouray9323]

Generally Accepted Accounting Principles.

[@joelyaw535]

Scenario You are working as a graduate within the engineering department of a manufacturing and consulting focused public listed company. You and your team are working on the post-COVID recovery and how best to allocate capital. Your team has $1,000,000 in capital at their disposal. The entire department is going to have a conference call next week and you have been asked to prepare a memo for the team regarding the financial options being considered. As the accounting department will be joining your memo is to prepare the staff for the call. The accountants are expected to use terms which may not be fully understood by the greater department. So your memo will be distributed before the call or you may be asked to speak on the call to assist everyone's understanding. The memo should discuss each of the following: 3. Your company has been using traditional costing and is considering moving to Activity Based Costings for a number of product lines. Explain what is meant by Activity Based Costings, how it differs from traditional costing, and how it may be advantageous.

[@johncharllirazan3363]

Sir Khan, could you make lectures on strategic Financial management? Thank you sir more power

[@sugarmin7198]

honestly you made nonsense make sense