Comparative Report
Introduction
Accounting and management are two popular majors of university disciplines. In this report, the disciplines of these two major will be compared and contrasted. There are four main areas enabling the two disciplines to be distinguished, which in terms of substance, source of data, knowledge source and teaching modes.
Substance
The first area of the contrast is the substance of the two disciplines. Coffin & Hewings (2003) illustrated that these two disciplines are classified into different disciplines categories. Accounting belongs to social science while management is a king of discipline practice. Accounting is to produce financial information about an organization and deliver it to those who need it, such as the stockholders, managers, or banks. It concentrates on applying its principles to the business entities in three aspects which are named accounting, bookkeeping, and auditing. Differing from accounting, management is the act to coordinate people’s efforts to achieve desired objectives (Cole 2012). It emphasizes on the activities such as planning, budgeting, implementing, and controlling, which could ensure the business operations on the right way to accomplish goals.
Source of data
The second difference between these two disciplines is the source of data. Both of the disciplines are data required to ensure objective operations. However, the source of data and the usage of data are different in these two disciplines. In accounting, students have to learn identify useful information directly from the primary data both internal and external, such as revenue, tax, or other expense. This data would be interpreted and used for developing the financial statement to the senior management or the public. In management, the required data are often from the other knowledge area such as accounting, marketing, or design. The data is generally used for decision making and optimize resource allocation.
Knowledge source
The third contrast is the
Accounting and management are two popular majors of university disciplines. In this report, the disciplines of these two major will be compared and contrasted. There are four main areas enabling the two disciplines to be distinguished, which in terms of substance, source of data, knowledge source and teaching modes.
Substance
The first area of the contrast is the substance of the two disciplines. Coffin & Hewings (2003) illustrated that these two disciplines are classified into different disciplines categories. Accounting belongs to social science while management is a king of discipline practice. Accounting is to produce financial information about an organization and deliver it to those who need it, such as the stockholders, managers, or banks. It concentrates on applying its principles to the business entities in three aspects which are named accounting, bookkeeping, and auditing. Differing from accounting, management is the act to coordinate people’s efforts to achieve desired objectives (Cole 2012). It emphasizes on the activities such as planning, budgeting, implementing, and controlling, which could ensure the business operations on the right way to accomplish goals.
Source of data
The second difference between these two disciplines is the source of data. Both of the disciplines are data required to ensure objective operations. However, the source of data and the usage of data are different in these two disciplines. In accounting, students have to learn identify useful information directly from the primary data both internal and external, such as revenue, tax, or other expense. This data would be interpreted and used for developing the financial statement to the senior management or the public. In management, the required data are often from the other knowledge area such as accounting, marketing, or design. The data is generally used for decision making and optimize resource allocation.
Knowledge source
The third contrast is the