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Accounting supplies information to managers for internal use to assist in decision making process. It does not have to be provided in any specific format.
Accounting supplies information to managers for internal use to assist in decision making process. It does not have to be provided in any specific format. This information is used by finance to evaluate past decisions and performance, along with prospective information to make sound decisions for future investments in order to grow or maintain equity. Financial reports must follow certain guidelines. In summary accounting evaluates past a present financial information and finance acts on the information creating plans for future investments. Accounting and finance work hand in hand to ensure financial stability and growth
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