A Study on the Integration Development of Financial Accounting and Management Accounting
Abstract: Financial accounting and management accounting are two branches of contemporary enterprise accounting, and they both belong to accounting information system. In today’s information age, both financial accounting and management accounting are facing how to adapt to the times and constant improvement and development. Fundamentally, the accounting system as the core system of enterprise management is composed of financial accounting and management accounting. Especially under the conditions of knowledge economy, with the rapid development of network information technology, accounting system is widely used, so the integration of financial accounting and management accounting is inevitable. This paper will point out the differences and connections of management accounting and financial accounting in principal objective, legal requirements, focus on individual parts or segments of the business, generally accepted accounting principles, time dimension and report frequency through the way of contrast and analysis, then discuss the theoretical basis and methods and innovative solutions of integration to conclude the inevitability of integration.
Key words：financial accounting; management accounting; integration development
Table of Contents
1. Introduction………………………………………………………………………....1
1.1 Research Background and Purpose……………………………………………..1
1.2 Research Methods……………………………………………………………....2
1.3 The Structure of the Article……………………………………………………..2
2. Literature Review…………………………………………………………………...3
2.1 Key Terms……………………………………………………………………....3
2.2 Research at Home……………………………………………………………….3
2.3 Previous Research Abroad……………………………………………………...4
2.4 Comments on the Previous Research…………………………………………...4
3. Differences between Financial Accounting and Management Accounting………...5
3.1 Principal Objective ……………………………………………………………..5
3.2 Legal Requirements…………………………………………………………….5
3.3 Focus on Individual Parts or Segments of the Business………………………..5
3.4 Generally Accepted Accounting Principles…………………………………….6
3.5 Time Dimension………………………………………………………………...6
3.6 Report Frequency……………………………………………………………….6
4. Integration between Financial Accounting and Management Accounting………….7
4.1 Status Quo………………………………………………………………………7
4.2 Reasons for Integration…………………………………………………………7
4.3 Theoretical Basis of Integration……………………………………………….10
4.4 Methods Selection of Integration……………………………………………...11
5. Conclusion…………………………………………………………………………13
5.1 Summary………………………………………………………………………13
5.2 Limitation……………………………………………………………………...13
5.3 Suggestion……………………………………………………………………..14
Work cited……………………………………………………………………………15
