What is financial accounting? How does it differ from managerial accounting? Why is this important to know?

Foundations of Business - Standalone book (MindTap Course List)
4th Edition
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Chapter15: Using Management And Accounting Information
Section: Chapter Questions
Problem 5DQ
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What is financial accounting? How does it differ from managerial accounting? Why is this important to know?

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