Problem: Financial management is based on three disciplines: financial accounting, managerial accounting, and managerial finance. Explain how the three disciplines fit into the overall financial management function. Using examples if possible, show how they are similar and how they differ?
The key difference between financial and managerial accounting is that financial accounting is aimed at providing information to parties outside the organization. Whereas managerial accounting information is aimed at helping managers within the organization make decisions. Managerial Finance is that branch of finance that provide tools for a company's financial managers. It encompasses corporate finance and management accounting.