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Such a accounting supplies data to existing, potential and possible shareholders together with creditors which include sellers or financial institutions, monetary analysts, economists and various govt companies. Considering the fact that these consumers or purchasers have diverse requirements and prerequisites, and the presentation of monetary accounts is extremely well prepared, planned, structured and issue to numerous more policies than management accounting. Which entire body of principles that administers financial accounting in a very specified jurisdiction is named Normally Accepted Accounting Principles abbreviated as GAAP.