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Sophia Tutorial Accounting in Practice,
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6
October 2023
2023/2024
A+
1. Managerial vs. Financial Accounting
Managerial accounting is a branch of accounting that is focused on internal reporting to assist internal
management with decisions, structure, and goals.
Financial accounting accounting, on the other hand, is a branch of accounting that is focused on external reporting of
financial status to provide information to decision makers and interested parties.
Now, what is the common thread between managerial and financial accounting? Well, they both provide
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