accounting serves the needs of managers employed inside the organization Financial accounting emphasizes the financial consequences of: past activities, objectivity & verifiability, precision, and companywide performance Managerial accounting emphasizes decisions affecting: the future, relevance, timeliness, and segment performance. Segment: a part or activity of an organization about which managers would like cost, revenue, or profit data (examples: product lines, customer groups (age, ethnicity, gender…
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