Question: Explain the difference between financial accounting and management accounting 2. What are subsidiary ledgers and reconciliation accounts? How are they related? 3. Explain the three

Explain the difference between financial accounting and management accounting 2. What are subsidiary ledgers and reconciliation accounts? How are they related? 3. Explain the three transaction types in asset accounting. 4. What are depreciation areas? Why are different depreciation areas necessary? 5. What are charts of accounts and the general ledger? How are they related? 6. Briefly describe the key processes in financial accounting

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