<p>Hey everyone ,
I am an accounting major and i just finished my first semester of college. I took intro to financial accounting and ended up with an A in the class. I was pretty excited because i was iffy about accounting because of the difficulty and i ended up doing super good. My question is i am taking managerial accounting next semester and i was wondering if anyone has taking it if they could compare it to financial accounting? and is managerial just have to do with internal users in the company instead of external like financial accounting?</p>
<p>At my university, it’s called Principles of Accounting II but it covers mostly intro managerial accounting (in addition to further accounting for corporations, stocks and such).</p>
<p>I enjoyed managerial more than financial. With managerial, you’ll probably look at things like incremental analysis (using numbers to show whether you should close a plant, for example), classifying manufacturing materials and labor (work in progress, finished goods, etc.), and calculating costs (basically an intro to cost accounting) using various methods such as High-Low. And yes, managerial accounting is overwhelmingly focused on internal business matters, and therefore does NOT have to follow GAPP, because reports are not monitored from the outside but rather just communicate to management and such.</p>
<p>That being said, I’m only a sophomore and have only taken 2 semesters, so I’m speaking only from my experience and we’re very much in the same boat. I personally enjoyed the managerial accounting more as I see it has more practical application.</p>
<p>ahhhh thats what i like to hear, thanks a lot for your input!</p>
<p>Yeah I agree managerial was a lot more interesting than financial, IMO. No journal entries/debits/credits or any of that.</p>
<p>thats great to hear, journal entries are a pain in the ass</p>