Managerial Accounting (15th Edition)

Published by McGraw-Hill Education
ISBN 10: 007802563X
ISBN 13: 978-0-07802-563-1

Chapter 1 - Managerial Accounting: An Overview - Questions - Page 19: 1-1


Managerial accounting deals with internal and specific aspects of a business, whereas financial accounting deals with macro accounting information from the business as a whole.

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More specifically, managerial accounting refers to internal processes used to account for business transactions, whereas financial accounting refers to the aggregation of accounting information into distinct financial statements.
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