Describe the Major Differences Between Management Accounting and Financial Accounting

question 182

Essay

Describe the major differences between management accounting and financial accounting for the following:
1. Primary users
2. Focus and emphasis
3. Rules of measurement and reporting

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Definitions:

Receding Axes

A term used in perspective drawing, indicating axes that give the illusion of depth by appearing to recede into the distance.

Isometric Ellipse

An ellipse that represents a circle viewed in isometric projection, used to convey circular features in angled views on technical drawings.

Oblique Circles

Circles on an oblique plane to the observer, appearing as ellipses in technical drawings and perspectives.

Cavalier Oblique

A form of oblique drawing where the depth is represented at full scale without foreshortening, often used for industrial drawings.