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Essay text:
This paper will explore the similarities and the differences between the two accounting methods as well as the different users of the two methods. Each method has its own value, depending on the needs of the business and the users.
Managerial Accounting
Managerial accounting information includes data on the costs of an organization’s products and services, budgets, performance reports, and anything else that will assist managers and employees in planning and control activities (Geense, 2005). Some examples of managerial accounting are reported expenses of an operating department, calculated costs of producing a product, measurements of economic performance...
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