Financial and Managerial Accountants
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Explain the functions of financial and managerial accountants and explain how their reports are used by companies.
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Solution Summary
This solution of 158 words explains the roles and responsibilities financial and managerial accounts hold in a company and the function of their reports.
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Financial accountants: Their primary responsibility is to prepare and report financial statements (income statement, balance sheet, and cash flow statement) for the shareholders of the company. Following the General Accepted Accounting Principle (GAAP), they oversee the company's ...
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