What is the difference between a management accountant and a financial accountant?
There are many different types of accountants. It depends on your accountant’s practical experience and theoretical knowledge as to how well your accountant can perform in a particular role. It is similar to the expertise required by a Heart Surgeon, versus a General Practitioner. These areas of expertise are very different and a General Practitioner cannot perform the task of a Heart Surgeon, although he may have an overall understanding of what they do. Financial Accountant The Financial Accountant concentrates on the preparation of the profit and loss statement and balance sheet which requires journal and reconciliation experience. In smaller organisations the financial accountant is also the management accountant. Management Accountant The Financial Accountant will pass the profit and loss statement and balance sheet to the Management Accountant who analyses the results `and provides the reasons for variances to plan to management. The management accountant is also responsible for
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