How do Finacial Accounting and Management Accounting work together?
Management accounting is a specialized sub-set of accounting, focusing on internal needs of businesses. [ While financial accounting focuses on external reporting and history, management accounting focuses on current information and the needs of in-house management. Both management and financial accounting work together to give management and external users the information required. Often a management computer system feeds into a financial computer system, providing users and stakeholders with complete cost information. source: wisegeek ]
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Asked 1/7/2012 6:56:08 PM
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