Summary of Contabilidad Administrativa y Financiera ► Cuadro Comparativo, Diferencias, Ejemplos y Similitudes

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The YouTube video titled "Contabilidad Administrativa y Financiera ► Cuadro Comparativo, Diferencias, Ejemplos y Similitudes" discusses the differences between financial and administrative accounting. Financial accounting is focused mainly on past events, while administrative accounting is more future-oriented. Financial and administrative accounting reports can differ substantially in their approach and presentation, depending on the needs of the company. Primary users of each type of accounting are external investors and management, respectively. Financial accounting reports are typically published annually, while administrative reports are monthly or weekly.

• 00:00:00 This video discusses the different types of accounting, their purposes, and their similarities. First, we discuss financial accounting, which is focused on providing information to external agents of a organization. Financial accounting also includes reporting on financial and non-financial data. Administrative accounting, on the other hand, is focused on internal agents. It includes both financial and non-financial data. Finally, we look at six key differences between financial and administrative accounting. We also explore five key similarities between the two types of accounting.
• 00:05:00 The two types of accounting are used to communicate different aspects of a company's financial situation to external parties. Financial accounting communicates a company's financial status to outsiders, while administrative accounting assists managers with administrative tasks. Financial accounting is focused mainly on past events, while administrative accounting is more future-oriented. Financial and administrative accounting reports can differ substantially in their approach and presentation, depending on the needs of the company. Primary users of each type of accounting are external investors and management, respectively. Financial accounting reports are typically published annually, while administrative reports are monthly or weekly.
• 00:10:00 This video reviews the main similarities and differences between accounting and management, including financial and administrative accounting. Financial accounting is very rigid and continues to be low in standards, while administrative accounting is more flexible and pragmatic, aimed at taking decisions within a company. Finally, five main similarities between financial and administrative accounting are noted: both provide numerical information about a company's financial state, both have the objective of providing information, both use accountants to prepare reports, both make use of accounting systems to produce financial statements, and both require a data system to allow preparation of accounts and the issuing of financial reports. Administrative accounting also has greater detail and more information than financial accounting, and is better suited for making decisions.
• 00:15:00 This video covers the basics of accounting and finance, comparing and contrasting them between different countries. It then goes on to discuss some common examples, and finally highlights similarities between different systems.