What are the key differences between managerial accounting and financial accounting?

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kennamorgan35 30 Sep 2024

Managerial accounting focuses on providing internal reports to help management make informed business decisions,

Managerial accounting focuses on providing internal reports to help management make informed business decisions, while financial accounting is geared toward creating external reports for stakeholders like investors and regulators. Managerial accounting is future-oriented and detailed, while financial accounting summarizes past performance. If you're struggling with these concepts, consider seeking Accounting class help to better understand the distinctions and excel in your course.

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