The difference between the available cash at the beginning of an accounting period and that ... equity (how the assets are financed). In other words, the balance sheet must balance.

Unlike financial accounting, which follows standardized rules for external reporting, managerial accounting is customized to internal needs, examining costs, revenue, and performance metrics to ...

She has 15+ years of experience as a financial writer and technical analyst. Cost accounting manages and tracks all of a company's expenses to enable it to get a better handle on its financial health.