Complete the Following Table to Compare and Contrast Financial and Managerial

question 96

Essay

Complete the following table to compare and contrast financial and managerial accounting.
$$\begin{array} { | l | l | l | } \hline \text { Characteristic } & \text { Financial Accounting } & \text { Managerial Accumting } \\\hline \text { Users } & & \\\hline \text { Level of agpregation } & & \\\hline \text { Regulation } & & \\\hline \text { Characteristic of information } & & \\\hline \text { Tirne horizon } & & \\\hline \text { Reporting frequency } & & \\\hline\end{array}$$

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Definitions:

Formality

The degree to which actions, processes, or relationships in professional settings are governed by established rules and procedures.

North American Free Trade Agreement

A trilateral trade bloc in North America created to reduce trading costs, increase business investment, and help North America be more competitive in the global marketplace.

Tariffs

Taxes imposed on imported goods, intended to regulate trade, protect domestic industries, or generate revenue for the government.

Power Distance

A cultural dimension that reflects the extent to which inequality and power disparities are accepted and endorsed by individuals in a society or organization.