Main differences between financial accounting and managerial accounting
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Video Overview
There are two main branches of accounting. These are financial accounting, and managerial accounting. Financial accounting provides a scorecard by which the past performance of a business is judged. This is in the form of financial statements that must be drawn up by the business. Managerial accounting looks towards the future and is done for internal purposes. This tutorial will look at the main differences between financial and managerial accounting.
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