| Financial accounting differs from managerial accounting because | | |
| These external users are interested in the organization’s profits, its ability | | |
| Much of the information is contained in the annual report, a yearly statement | | |
| Bookkeeping involves | | |
| Bookkeeping is an important part of accounting, but | | |
| Accountants classify and summarize | | |
| Accountants interpret the data and report them to | | |
