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Accounting

Question

Management Accounting - 7.Edition - 2015 A. L. Hartgraves, W. J. Morse 

- one source from the book that I use for the class

- the assignment is to answer these questions:

Question #1

In your own words, list and describe five differences between financial accounting and managerial accounting. Be sure to explain how the two differ on each point you list.

Question #2

Describe the two major types of budgets we discussed in the budgeting process. As part of your description, you should provide specific examples of each.

Question #3

List and describe four potential advantages of budgeting and four potential disadvantages of budgeting. As part of your description, you should provide specific examples of the advantages and disadvantages.

Solution

Title: Accounting
Length: 1 pages (275 Words)
Style: APA

Preview

Accounting

Question 1

Use

Financial accounting is prepared for internal and external uses. Management accounting, on the other hand, is exclusively for internal use (Hartgraves & Morse, 2015).

Application of Standards

Financial accounting must comply with the established principles and standards. In contrast, the other type does not have to follow strict accounting standards.

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