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Essay text:
The accounting information is reported through various reports and is obtained from the day-day transactions of the business which is recorded. This paper will discuss the key differences between financial accounting and managerial accounting and discuss the various financial statements that are used to communicate the accounting data of the company. This paper will further discuss the types of business decisions that could be made when using the two different types of accounting. Ethics has always played a significant role in business practices and even more so now due to scandals of Enron, WorldCom and others...
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