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Unformatted text preview: accounting is special-purpose for specific decisions. Fourth, content of reports for financial accounting is limited to double-entry accounting and cost data, highly aggregated (condensed), pertains to business as a whole, and generally accepted accounting principles. Managerial accounting is extended beyond double-entry accounting to any relevant data, very detailed, pertains to subunits of the business, and standard is relevance to decisions. Last, financial accounting verification process is audit by CPA and managerial accounting verification process is no independent audits....
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- Spring '10