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Running head: MANAGERIAL AND FINANCIAL ACCOUNTING PAPERManagerial and Financial Accounting PaperYOUR NAME(S)ACC/300 DATENAME OF PROFESSORManagerial and Financial Accounting PaperFinancial statements furnish financial statistics of a business operations or condition to a variety of users. Having an understanding what type of information is on which type of report is helpful when considering a report to review. This report will specifically deal with two such financial statements, managerial and financial accounting reports. Furthermore, the report will dissect the type of information they generate, who can use the generated data, and how can the information be used to towards business decisions. Managerial AccountingManagerial accounting report presents historical and estimated data to the internal management in order to conduct business operations and develop an inclusive business strategy (Edmonds, Edmonds, McNair, Olds, & Schneider, 2006). The key purpose of managerial accounting is to induce managers in achieving these business strategies by focusing their efforts towards them. It can be used as a tool in establishing values in the organization by the directing resources, procedures, and employees to efficiently and proficiently achieve the companys objectives (Edmonds, et. al., 2006). Managerial accounting reports can be tailored to specific requests of the management. Though the report falls under financial statement, this flexibility in append

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