Clipping is a handy way to collect important slides you want to go back to later. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Conclusion on Difference between Financial Accounting and Managerial Accounting Financial accounting is concerned with the principles, practices and systems employed to compile transactions of an entity and present financial information for use by an entity’s internal and external stakeholders. Management Accounting . See our Privacy Policy and User Agreement for details. The key difference between Accounting vs financial management is that Accounting is the process of recording, maintaining as well as reporting the financial affairs of the company which shows the clear financial position of the company, whereas, the financial management is the management of the finances and investment of different individuals, organizations and other entities. 2. Financial records are maintained through financial accounting system and cost records are maintained through cost accounting systems