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Financial Accounting,concentrates on the production of financial reports including the basic reporting requirements of profitability, liquidity, solvency and stabilityManagerial Accounting Reports are considered to be "future looking" and have forecasting value to those within the company.Cost accounting measure and record costs individually, then compare input results to output or actual results to aid company management in measuring financial performance. While cost and managerial accounting is often used within a company to aid in decision making, financial accounting is what the outside investor community typically sees
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