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Describes the role of financial accounting and financial reporting. Is there a relationship? List and...

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Accounting

Describes the role of financial accounting and financial reporting. Is there a relationship? List and describe the categories of stakeholders that need financial information. It distinguishes between investor (investors) and creditors (creditors) as users of the information of the financial statements. Explain how financial reporting helps to solve problems. Define generally accepted accounting principles (GAAP) in your own words.

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