Management accounting revision question august 2019.

You are a trainee CPA accountant with a medium-sized firm and have been asked by your manager to prepare a briefing note to explain the difference between management accounting and financial accounting, and the benefits that good management accounting information may bring to a business. It is intended that the briefing note will be distributed to existing and potential SME clients to explain the importance of their business of good management accounting information.



REQUIREMENT:

In your briefing note:

(a)     Outline the main differences between management accounting and financial accounting. 

(b)     Describe the factors that have contributed to the growth and importance of management accounting. 

(c)     explain the role of the management accountant in terms of the type of information that he/she may provide to a business.

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