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Financial accounting and management accounting are the two types of accounting duties.

Because each of these components of accounting provides a separate career path, it's helpful to
explain the contrasts between them. Financial accounting, on the other hand, refers to the
aggregation of accounting data into financial statements, whereas management accounting
refers to the internal procedures that are utilized to account for corporate operations. There are a
few distinctions between financial and management accounting that will be discussed here.

Aggregation

Financial accounting summarizes a company's overall performance. Managerial accounting


nearly always provides more extensive information.

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