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What Is the Major Difference Between the Objective of Financial

question 6

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What is the major difference between the objective of financial accounting and the objective of managerial accounting?


Definitions:

Operating Activities

Transactions and other events that are not investing or financing activities, relating to the primary operations of a business.

Financing Activities

Activities that result in changes in the size and composition of the equity capital and borrowings of a company.

Operating Activities

The day-to-day actions taken by a business, such as selling products, managing costs, and paying bills, that are essential to running the business and generating income.

Production

The process of creating, growing, manufacturing, or improving goods and services.

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