Respuesta :
Financial accounting provides a historical perspective, whereas management accounting emphasizes a current perspective.
What is Financial accounting?
Financial accounting is the branch of accounting dealing with the summary, analysis, and reporting of a company's financial transactions. This entails preparing financial statements for public use. People interested in getting such information for decision making include stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders.
Local and international accounting rules govern financial accounting. The Generally Accepted Accounting Principles (GAAP) are the basic framework of financial accounting principles followed in every given jurisdiction. It encompasses the norms, practices, and procedures that accountants adhere to when recording, summarizing, and preparing financial statements.
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