ACCOUNTING PRINCIPLES-W/WILEYPLUS
ACCOUNTING PRINCIPLES-W/WILEYPLUS
14th Edition
ISBN: 9781119707158
Author: Weygandt
Publisher: WILEY
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Chapter 19, Problem 3Q
To determine

Financial Accounting: Financial accounting is the complete cycle of record to report of financial data and transaction during a period. It is a regulatory requirement for every business to report the financials of the company.

Managerial Accounting: Managerial accounting is the process to convert business data into quantitative information. It helps to evaluate the various options available to make informed decisions.

To explain: The difference between reports of financial accounting and managerial accounting based on content and verification.

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