Accounting is different from finance in the sense that it is used for internal managerial decision-making purposes like cost control, product costing, and income tax. In this fundamental course, we explain about external financial statements, internal managerial accounting reports, income tax systems and how they interact in business decision-making. We also review the accounting equation, the three primary financial statements, how to use accounting to aid decision making, and how income taxes figure into business and personal decisions.
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