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Financial Accounting

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Dictionary Says

Definition of 'Financial Accounting'

Reporting of the financial position and performance of a firm through financial statements issued to external users on a periodic basis.
Investopedia Says

Investopedia explains 'Financial Accounting'

The key difference between financial and managerial accounting is that financial accounting is aimed at providing information to parties outside the organization, whereas managerial accounting information is aimed at helping managers within the organization make decisions.

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