Financial accounting and managerial accounting

Assignment Help Accounting Basics

Reference no: EM13129435

Which of the following is not a difference between financial accounting and managerial accounting?

a) Financial accounting is primarily concerned with reporting the past, while managerial accounting is more concerned with the future.

b) Managerial accounting uses more nonmonetary information than is used in financial accounting.

c) Managerial accounting is primarily concerned with providing information for external users while financial accounting is concerned with internal users.

d) Financial accounting must follow GAAP while managerial accounting is not required to follow GAAP.

Reference no: EM13129435

Questions Cloud

Determining the operating profit : A firm operated at 80% of capacity for the past year, during which fixed costs were $210,000, variable costs were 70% of sales, and sales were $1,000,000. Operating profit was:

Compute the volume of water required to reconstitute : Calculate the volume of water required to reconstitute (also referred to as solubilize) the entire contents of the vial of ovalbumin to a final concentration of 6.1 mM.

Write structural formulas for the compounds : What are the main mononitro products of the nitration of the following compounds - Write structural formulas for the compounds

Area between graphs : Sketch both graphs. Find and label the intersection points. Find the area between the graphs using integration. Give the full integral, including limits, in proper notation.

Financial accounting and managerial accounting : Which of the following is not a difference between financial accounting and managerial accounting?

Application of derivative and evalution of integral : Evaluate the integral log3(x)/(2x). Evaluate the integral sinh^6(x)*cosh(x) dx. Evaluate the integral x^2 * sin(2x) dx. Evaluate the indefinete integral sin^5(x) dx

Calculate the equilibrium concentrations of the gases : If all four gases had initial concentrations of 0.650 M, calculate the equilibrium concentrations of the gases.

Rocky net income from the repair business : The floor space of Rocky's residence is 2,500 square feet, and he estimates that 20% of this is devoted exclusively to the repair business. Gross income from the business is $12,000, while expenses (other than home office) are $5,000. Expenses rel..

Explain how much will net income change if sales increase : Explain how much will net income change if sales increase by 5,000 units.

User Account

All Pages