Is Financial Accounting the same as regular accounting?
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I have to take a test based on Financial Accounting and I was wondering if my class in Regular Accounting will suffice for informational purposes in passing the exam, or should I study a financial accounting textbook because regular accounting will fall short? What's the difference?
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Answer:
They are the same, but if you took the course a while back, there are IFRS policy changes now that you might need to learn. If you need any help with your work, you can use my accounting tutorials as a study aid :) GL!
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Other answers
Financial accounting is GAAP accounting, as opposed to, say, cost accounting, which does not to follow GAAP. I have never heard of "Regular Accounting", but I expect it means financial accounting.
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