Page "Throughput accounting" Paragraph 1

Management accounting is an organization's internal set of techniques and methods used to maximize shareholder wealth.

Throughput Accounting is thus part of the management accountants ' toolkit, ensuring efficiency where it matters as well as the overall effectiveness of the organization.

It is an internal reporting tool.

Outside or external parties to a business depend on accounting reports prepared by financial ( public ) accountants who apply Generally Accepted Accounting Principles ( GAAP ) issued by the Financial Accounting Standards Board ( FASB ) and enforced by the U. S. Securities and Exchange Commission ( SEC ) and other local and international regulatory agencies and bodies such as International Financial Reporting Standards ( IFRS ).