Financial Accounting versus Management Accounting

Many times, when people think of the profession of accounting and what accountants do on a day-to-day basis, they think all accountants do the same thing and have the same goals. This is not always the case. Accounting can be broken down many different ways, but one of the main ways involves looking at the differences between financial accounting and management accounting. Both have different purposes and uses, and as a result they have different rules and emphases.

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