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What is the difference between managerial and financial accounting?

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What is the difference between managerial and financial accounting? Which one involves ABC costing and the inward looking performance measures that Emma is looking for?
What is activity based cost (ABC) and how does it differ from traditional costing methods?
If Emma decides to implement ABC what key benefits will it provide and what key challenges will she face? Be sure to fully support your assertions in all three sections with reasoning, examples, and research.

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