Accounting

Managerial Accounting-Types, Tools and Strategic Applications

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Managerial accounting, also known as management accounting, involves the process of preparing financial and non-financial information for managers within an organization to make informed business decisions. Unlike financial accounting, which is focused on providing financial information to external stakeholders like investors and regulators, managerial accounting provides detailed, actionable information tailored to the needs of internal … Read more

Fiduciary Accounting: Types, Tools & Challenges

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Fiduciary accounting refers to the financial management of funds held by one party for the benefit of another. The party managing the funds is termed the “fiduciary,” and they are legally and ethically obligated to act in the best interest of the beneficiary. A fiduciary such as a the executor of an estate or trustee … Read more