What are the similarities and differences between financial and managerial accounting. How does each benefit a company and its stakeholders? If you were a non-accountant stakeholder in a company, how would a basic knowledge of each benefit you? How does a lack of understanding of each hurt you? Please give at least one specific example or scenario. If you have real world experience to share, either where a knowledge of financial or managerial accounting helped you, or a situation where you wished you knew more, it would be especially helpful.