Financial accounting and management accounting are the two core areas in FIA/CAT and ACCA professional programs. The following comparison gives you some information about financial accounting and management accounting.
|Management accounting||Financial accounting|
|User||Internal (manager)||External (investors, banks, taxes…)|
|Legal||No legal requirements||Legal requirements|
|Time of data||Past and future data||Past data|
|Purpose||Help management in planning, control and decision making||Provide information about company financial for external parties|
|Information||Financial & Nonfinancial information||Financial information|
|Time of preparation||Prepare as and when required||Defined period (1 year)|
Students will study financial accounting from introductory level to advanced level in papers FA1, FA2, FFA and FAU of the FIA/CAT program.
Students will study management accounting from introductory level to advanced level in papers MA1, MA2, FFA & FFM of the FIA/CAT program.
When starting to study FIA/CAT program, students can either start with introductory management accounting paper MA1 or introductory financial accounting paper FA1.
For more information on FIA/CAT program, please click here.