From the course: Excel: Management Accounting
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Managerial accounting and FP&A - Microsoft Excel Tutorial
From the course: Excel: Management Accounting
Managerial accounting and FP&A
- [Instructor] In this section, we'll discuss what management accounting is and the way it fits into the organization as a whole, including its role within financial planning and analysis, or the FP&A function. So, what is management accounting? Well, management accounting is really all about providing financial data and advice to a company for use in the organization and the development of that business. It's closely related to corporate finance. In fact, there's often significant overlap in the functions between the two. But management accounting helps provide executives with guidance about where the firm is, where it's been historically, and what needs to change in order to improve profits. So, it's really all about providing guidance that helps executives to make better decisions moving forward. Now, when people think about accounting, most people automatically think about financial accounting. Financial accounting produces annual reports, though, mainly for external stakeholders…
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