In the following chart, compare financial accounting and managerial accounting by describing how…

In the following chart, compare financial accounting and managerial accounting by describing how each differs for the items listed. Be specific in your responses.

Financial Accounting

Managerial Accounting

1. Nature of information

2. Flexibility of practice

3. Focus of information

4. Time dimension

5. Users and decision makers

6. Timeliness of information

7. Purpose of information

 

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