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account.docxDefine the terms, financial accounting, and managerial accounting. Compare and contrast the similarities and differences between financial accounting and managerial accounting.
Review the following link:
http://www.accountingfoundation.org/jsp/Foundation/Page/FAFBridgePage&cid=1176164538898
Discuss the accounting approach that must recognize generally accepted accounting principles (GAAP).
Provide three reasons why the use of GAAP is important when reporting financial statements.
Directions to student: The final paragraph (three or four sentences) of your initial post should summarize the one or two key points that you are making in your initial response.
Your main post must be two to three substantive paragraphs 150-200 total words and include at least two APA-formatted citations/references.
