Nature of the reports produced - financial accounting, Financial Accounting

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State the Nature of the reports produced - Financial accounting

Financial accounting reports tend to be general-purpose which is, they contain financial information which would be useful for a broad range of users and decisions instead of being specifically designed for the needs of a specific group or set of decisions. Management accounting reports, instead, are often specific-purpose reports. They are designed with a specific decision in mind and/or for a specific manager.

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