It is the language that communicates information to people who have an interest in an organization. Broadly these interested parties(stakeholders) could be divided in to two.
- Internal Parties
Eg : Managers, Board of Directors - External Parties
Eg : Government, Tax authorities
- Management accounting is concerned with providing information to internal parties like mangers.
- Financial accounting is concerned with providing information to external parties.
11/09/2010 |Pg 1
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