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Explain the purpose of financial and management accounting with some exemples within your chosen organisation

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 8Q: What are the key differences between financial accounting and managerial accounting?

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Explain the purpose of financial and management accounting with some exemples within your chosen organisation

Approach to decide on the efficient procurement and investment of funds for the day-to-day operations of a business. Financial management aims at profit maximization, and it includes financing and capital budgeting.

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