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Accounting 1 Page



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.


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



Question 1


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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