Question

Discuss one difference between the types of cost information needed for external reporting and the information useful to the nurse manager

Answer 1

-Managerial accounting delivers info apprehensive with the everyday processes of a professional.

-This data energies the internal organization of a corporation’s finances, commercial processes, and policy. It also aids to classify difficulties inside these zones and notifies organization of conceivable explanations.

-Managerial accounting includes present and upcoming growths, market predictions, and tendencies in a changeable commercial setting.

-Financial accounting pathways a business’s financial dealings and expenditures. It does so to accumulate monetary declarations for delivery to external shareholders, counting equity receptacles, creditors, and controllers.

-If the corporation’s standard or pledges are openly operated, these monetary declarations are also then made accessible to the community.

-Today’s managers seek economics specialists who comprehend the relations amid the budget and financial arcades; specialists who are skillful at predicting possible influences and judgement reserves for supreme reappearance.