I am quite new to SharePoint. I am confused between System account and Farm admin account. Could you please explain difference between these two.
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Farm Account: This account is also referred to as the database access account. This account has the following properties:
It's the application pool identity for the SharePoint Central Administration website. It's the process account for the Windows SharePoint Services Timer service.
System Account: System account is the same account used by application pool of your SharePoint web application in IIS at the time of creation/extension of respective web application.