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What are the two general areas of specialization in accounting?

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Answer:

Financial Accounting. Financial accounting is an area of accounting that deals with the recording, classifying, reporting and interpreting of a business financial performance and economic conditions to interested users ...

Managerial Accounting. Managerial Accounting is an area of accounting that deals with accumulation of financial information and preparation of reports for internal users only, like the company’s management or ...

Cost Accounting. Cost Accounting is an area of accounting that captures and accumulates manufacturing or production costs for internal use of an entity’s management, used in decision making purpose.

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