Distinguish between management accounting and financial Accounting

Management Accounting
Financial Accounting
1) Objectives if this is to provide information to internal use of management.
2) It concerned with the Department or division of the business.
3) It concerned with future plans and policies.
4) It is optical.
5) It is based on judgement.
1) Objectives if this is to provide information to Creditor, Government, Shareholders etc.
2) It concerned with the overall performance of the business.
3) Recording of past events.
4) It is compulsory.
5) It is based on