Archive for February 2023
What is Managerial Accounting?
Managerial accounting is a specialized branch of accounting that deals with the financial and operational decisions made by managers to help maximize an organization’s performance. It considers all aspects of the business, such as costs, revenues, investments, and other expenses. The information gathered from managerial accounting can be used to make better strategic decisions for…
Read MoreUnderstanding GAAP: Generally Accepted Accounting Principles
GAAP (Generally Accepted Accounting Principles) is a set of rules and regulations that govern the preparation of financial statements in accordance with accepted accounting practices. It is an accounting standard developed by the Financial Accounting Standards Board (FASB). It establishes what types of information should be included in financial reports, what form it should take, and…
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