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Financial Accounting and Reporting, also referred to as accounting or management accounting, refers to both aspects of accounting that includes reporting. Financial vs Management Accounting.
At its core, financial accounting and management accounting both focus on managing funds. Each has their own advantages and limitations but they all share several common goals and principles of practice that require each to function efficiently and successfully. They serve the financial community while the latter specializes in management accounting. It all begins here! – Intro to Financial and Managerial Accounting by David Fitch of Westpac Bank Ltd in Australia
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