The conciliation between the results of managerial accounting and the results of financial accounting

There are certain differences between the revenues and expenses/costs registered within managerial accounting and those registered within financial accounting, mainly referring to the fact (linked to) that within managerial accounting the result is formed exclusively on the market, therefore the revenues and expenses are being acknowledged at the moment of the sale, whereas within financial accounting there are certain resource consumptions which are being acknowledged as expenses sooner than the moment of sale of the products they refer to. Therefore, it will certainly be necessary the implementation of some accounts within the financial accounting due to collect the resource consumptions before their acknowledgement as expenses if they occur before the moment of sale. The managerial accounting system, as we have approached it within the present paper, allows acquiring information regarding the production cost of obtained products, and implicitly, of the sold products, hence within financial accounting one can dimension and register the value of acknowledged expenses along with the production achieved at the moment of sale. Nevertheless, even in terms of the existence of modern methods of expense acknowledgement, the value of the actual production cost of obtained products registered within financial accounting, is also being achieved within managerial accounting, but through postponing the acknowledgement of certain expenses one can achieve a result that is more near to the faithful image of the economic reality. Until the Romanian regulating authority in accounting field changes the moment of expense acknowledgement, managerial accounting responds to all informational necessities regarding products' costs and their profitability, but the differences between managerial accounting and financial accounting are rather significant. By organizing the economic entities into responsibility centers one offers a background for a more efficient usage of the economic results and also for performance stimulation.