Read Magal, S. R., & Word, J. (2012). Integrated Business Processes with ERP Systems, John Wiley & Sons. Chapter 3: Introduction to Accounting1. Explain the difference between financial accounting and management accounting.2. Briefly describe the key processes in financial accounting.3. What are charts of accounts and the general ledger? How are they related?4. Explain parallel accounting. Why do organizations maintain multiple ledgers? 5. Explain the three transaction types in asset accounting.
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