A student was really stumped trying to understand the differences between financial accounting and managerial accounting and how each function serves a different stakeholder in business. She asked her professor, I just dont understand why managers just cant use the same financial information in the financial statements to make internal financial decisions for a company rather than relying on additional financial data. Isnt this redundant?

Formulate a thoughtful response in 100-\250 words. Include at least one reference.