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1.4 Categories of Accounting






         Financial Accounting                                              Managerial Accounting









      Financial accounting is  Managerial accounting


           the field of accounting                                           provides economic and


           that provides                                                     financial for internal



           economic and financial                                            users.


           for external users.                                          Providing information as


      Prepares reports to                                                   required by the


           external users in                                                 management for


           compliance with                                                   decision making


           accounting standards






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