Which of the three types of accounting is most important to small business? Which is the least? Why do you think so?

1. Managerial accounting: Accounting methods that are specifically intended to be used by managers for planning, directing, and controlling a business.
2. Tax accounting: An accounting approach based on specific accounting requirements set by governmental taxing agencies.
3. Financial accounting: A formal, rule-based set of accounting principles and procedures intended for use by outside owners, investors, banks, and regulators.