Focuses on two aspects of accounting: financial and managerial accounting. Financial accounting is about how outsiders view and evaluate an organization such as a business, a not-for-profit entity or a governmental operation. It focuses on how economic events are reflected in a firm's financial statements including a balance sheet, an income statement and a statement of cash flows. It also focuses on how financial statement information is used by various stakeholders such as shareholders, creditors, employees and customers in making decisions with regard to the firm, including credit decisions and/or valuing a firm's equity securities. Analysis and equity management accounting involves providing information, both financial and non-financial, to management and employees to aid in planning, organizing activities, and monitoring and controlling business performance.