Solution-Differentiate between financial and managerial

Differentiate between financial and managerial accounting

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Reference no: EM133225804

Question 1.

When entrepreneurs accept and extend credit in their businesses there are risks and benefits. What are some types of consumer credit you have seen a business offer? If you owned a business, would you allow consumers to purchase items on credit? What are some of the risks and benefits you believe are associated with credit? What effect do you think credit has on a business profit and negotiated prices?

Question 2.

Imagine you own a busy shop in a small town. You sell commonly needed household items, as well as freshly made sandwiches and pizza. You have decided you need to hire someone to keep track of the finances. Who would you hire-a bookkeeper, an accountant, or both? Why? Explain and discuss the roles of bookkeepers and accountants. Differentiate between financial and managerial accounting.

Reference no: EM133225804

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Differentiate between financial and managerial accounting

Reference no: EM133225804

Reference no: EM133225804

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