This article explains the difference between Management Accounting (MA) and Financial Accounting (FA) and discusses their usefulness for different parties. It covers topics such as the basis of difference, aim, regulatory measures, governing principles, reporting beneficiaries, outputs, relevance and validity, independent audit, confidentiality, and perspective. It also explores the different users of financial information, including owners and senior level managers, banks, suppliers, investors, lenders, government, and customers.