MANAGEMENT

Detailed explanation-1: -The branch of accounting that generates reportsand information for the use of internal management. is known as: Tax accounting.

Detailed explanation-2: -These reports compile financial information from accounting records and can include data like transactions, operational costs, product profitability, and regional sales. These reports are made so that managers can make informed business decisions.

Detailed explanation-3: -The main objective of managerial accounting is to produce useful information for a company’s internal use. Business managers collect information that encourages strategic planning, helps them set realistic goals, and encourages an efficient directing of company resources.

Detailed explanation-4: -Financial accounting is a type of accounting that is focused on communicating the financial information of a company to external stakeholders, such as the IRS, creditors, investors or the U.S. Securities and Exchange Commission.