Financial and managerial accounting involves the management of cash flow, inventory, liabilities, and other related aspects in general accounting as it is applied in businesses that will allow them to analyze situations and make predictions. This is a significant skill for pharmacists in general because it can be applied in various ways specific to the setting that they are working in. For instance, community pharmacists can use this knowledge to keep track of their inventory and to discern what kinds of medicines they must have more of. Hospital pharmacists can make use of these skills to not just keep track of their inventory, but to see any trends in the kinds of cases that their institution is handling often. Of course, industrial pharmacists use this often to detect changes in consumer behavior and to foresee what kind of drug product they should market or innovate next. All these situations and many more are reasons behind why financial and managerial accounting is helpful for pharmacists.