This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Heres a quick overview of the primary accounting services: Bookkeeping : Recording daily financial transactions, such as sales and expenses. Financial Statement Preparation : Creating essential financialreports like income statements, balance sheets, and cash flow statements.
Financialaccounting requires detailed knowledge of the accounting framework used by the reader of a company's financial statements , such as Generally Accepted Accounting Principles ( GAAP ) or International FinancialReporting Standards ( IFRS ).
These documents are presented based on sets of rules known as accounting frameworks , of which the best known are Generally Accepted Accounting Principles ( GAAP ) and International FinancialReporting Standards ( IFRS ).
So if you want to go into public accounting, by all means I recommend that you get a CPA. But if you want to work inside an organization, for example, as a CFO, as a controller, as a senior financialaccountant or senior managementaccountant, then by all means I recommend the CMA. It's really about planning.
Denny has spent a lifetime working in accounting and finance. He currently serves as a member of IMA's FinancialReporting Committee and as the executive in residence at the JM Toll School of Accounting, Terry College of Business at University of Georgia. How did you learn about managementaccounting?
We organize all of the trending information in your field so you don't have to. Join 52,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content