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Essay Details:
Essay text:
Financial accounting primarily provides information for external users of accounting data, such as investors and creditors. On the other hand, management accounting provides information for internal users of accounting data. Internal users include employees, managers, and executives of the company.
Types of Information
The type of information required by the different user groups also differs. External users primarily rely on financial information about the company. They analyze this information in conjunction with general economic information, such as information about the industry in which the company operates...
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