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Both financial and managerial accounting affect user's decisions and actions.
Financial Accounting
The field of accounting concerned with the summary, analysis, and reporting of financial transactions related to a business, to external stakeholders.
Managerial Accounting
Managerial accounting involves the provision of financial and non-financial decision-making information to managers, focusing on the internal needs of a business.
- Understand the distinct functions and variations between financial and managerial accounting.
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Learning Objectives
- Understand the distinct functions and variations between financial and managerial accounting.
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