<p>I'm going to be minoring in business, and I have the choice of doing managerial accounting, financial accounting, or both. </p>
<p>I don't really intend on working in a corporate environment in a business position but want to minor so I have a foundation. I may possibly start a company so perhaps which ever (or both) would be more applicable to entrepreneurship.</p>
<p>Thanks.</p>
<p>The way they were taught at at my school, Managerial required a foreknowledge of basic financial accounting principles, but managerial accounting would profit you far more than financial would. Managerial is the stuff small business owners “should” know to better run said business.</p>
<p>I would definitely do both. You will be grateful for an understanding of accounting when you go to make financial decisions.</p>
<p>Probably financial accounting. That way you’d be able to look at a set of financial statements a bit more analytically than the average person.</p>
<p>Well Managerial deals more with internal reporting, understanding the costs of business, making budgets, tracking expenses and all that, whereas financial deals with financial reporting and statements to explain those tracked costs for the public. Since he is unlikely to deal with reporting to shareholders in a small business or since he could likely afford accountants when his business reaches that point, I’d still say managerial. I might be wrong though.</p>
<p>Financial accounting is more important.</p>
<p>Ok, I was wrong then. I concede my point.</p>