Distinguish Between Managerial Accounting and Financial Accounting

question 73

Essay

Distinguish between managerial accounting and financial accounting.

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Definitions:

Balance-of-Payment Deficits

A situation in the balance of payments where the payments made by a country for its imports, investments abroad, and other outflows are greater than the inflows from exports, foreign investments, etc.

Japanese Yen

The official currency of Japan, known globally as a major currency for trade and finance.

U.S. Goods

Products that are produced, manufactured, or assembled in the United States.

Foreign Capital Inflow

The entry of investment from external sources into a country, typically in the form of foreign direct investment (FDI), portfolio investment, or loans, contributing to economic development.