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Management accounting concentrates on the measurement, Investigation and reporting of knowledge that could help professionals in making conclusions to satisfy the ambitions of a corporation. In administration accounting, inner steps and reports are determined by Expense-gain Assessment, and they are not necessary to follow the usually approved accounting theory (GAAP).

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An audit of monetary statements aims to precise or disclaim an opinion to the economic statements. The auditor expresses an view over the fairness with which the monetary statements presents the money situation, final results of functions, and dollars flows of the entity, in accordance with the normally suitable accounting theory (GAAP) and "in all content respects".

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