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Managerial and Financial Accounting Accounting can be broken down into many different categories and areas. Managerial and financial accounting is only two parts of the cost accounting system. With in these two different aspects of accounting there are many similarities and differences not only between these categories but also in their rules and regulations, management information and reporting requirements as well. The certifications of accountants are also differentiated in these two categories, CMA and CPA. …

…Both certifications require qualifying education, experience in related fields as well as passing of an exam. Conclusion <Tab/> Accounting in general is a very important job within a company and crucial in the business world. Managerial accounting and CMA's, financial accounting and CPA's are both different to the accounting world with some similarities as well. Within these similarities and differences the use of these accountants satisfies both internal and external needs.