Documents generated by the financial accounting system focus on the activities of the company as a whole, rather than on individual departments or divisions. By contrast, documents generated by the management accounting system focus on individual departments.

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Financial accounting provides an overview of the company's financial health for external stakeholders by focusing on the company as a whole, whereas management accounting offers detailed reports and analysis for internal use, often concentrating on specific departments or divisions to aid in decision-making and operational planning.

Documents Generated by the Financial Accounting System Focus on the Activities