Differentiate between managerial accounting and financial management.

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Managerial accounting and financial management are both important aspects of running a successful business, though they have some distinct differences. Managerial accounting is concerned with providing information to internal decision makers in order to help them make better strategic decisions regarding the company’s operations. This type of accounting typically involves analyzing past financial performance, forecasting future outcomes based on historical data, and making recommendations for how best to use current resources in order to maximize profits or minimize costs going forward.

Financial management, on the other hand, focuses more on external sources of financing and how these can be utilized in order to meet long-term investment goals such as capital budgeting or risk management. It also involves assessing various types of debt instruments such as bonds and stocks as well as different strategies for raising capital like equity offerings or issuing debt securities. Additionally, it takes into account external factors that can affect a company’s ability to access adequate funds like interest rates or market conditions which may determine whether certain investments should be made at all.