Question: Explain the differences between financial accounting and managerial accounting. Provide simple examples to help explain the concepts. Why is a good understanding of the differences

Explain the differences between financial accounting and managerial accounting. Provide simple examples to help explain the concepts. Why is a good understanding of the differences between financial accounting and managerial accounting important? Then explain what the budgeting process is and provide examples of how managers use the budget for decision-making

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