One of the usual differences between financial and managerial accounting is the timeliness of the information reported.

Question

Quizplus · Accepted Answer

Financial accounting is focused on providing external stakeholders with historical financial information on the company, while managerial accounting is focused on providing internal stakeholders with real-time financial information. Therefore, managerial accounting is typically more timely in its reporting than financial accounting.

One of the Usual Differences Between Financial and Managerial Accounting