Write suitable discussion related to (i) the definitions of accounting and the forms of the Accounting as a discipline and (ii) the similarities and differences of Financial Accounting and Management Accounting.

Write suitable discussion related to (i) the definitions of accounting and the forms of the Accounting as a discipline and (ii) the similarities and differences of Financial Accounting and Management Accounting.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 5Q: How do the subject matter of reports and the verification of reports differ between financial...

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Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

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