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example of Legal accounting and Commercial accounting

example of Legal accounting and
Commercial accounting
Business   Accounting   
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Answer #1

Legal accounting

is a system usedd to record, analyze and categorise the financial transactions of an individual or a business.

Example can be

1.accounting done in accordance with IFRS.

2.accounting done in accordance with GAAP

Commercial accounting

The main objective of this accounting is to know the profit or loss and the financial position of any business.

It is something like providing right informatin to right people on right time.

Examples:

1. Sales accounting

2.purchase accounting

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