Posts Tagged ‘financial accounting’
An Overview of Financial Accounting
Accounting is a broad field. However, there is a myriad of varying spheres within accounting. One of these is financial accounting, a specific accounting branch that gathers, prepares, and reports a company’s financial transactions. It involves a series of financial statements shared externally and used to determine an organization’s or company’s financial health. The creation…
Read MoreFinancial and Managerial Accounting — Defining the Difference
The accounting and financial industries are surprisingly diverse. For example, financial and managerial accounting are two different branches within the sector. While there is some overlap in financial and management accounting (both use analytics and techniques such as ratio, vertical, and horizontal analysis), they have different objectives and audiences, affecting their focus and reporting methods. Both are…
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