Financial accounting and managerial accounting

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Reference no: EM13817439

Question 1: What is the difference between financial accounting and managerial accounting?

Question 2: Explain the two reasons why the shorter the payback period the more attractive the investment is when the payback technique is used?

Question 3: Distinguish between a master budget and a sales forecast.

Question 4: Explain the nature and importance of a job cost sheet.

Question 5: Distinguish among operating, investing, and financing activities.

Question 6: Managers' activities and responsibilities can be classified into three broad functions. List and discuss each function.

Question 7: Identify and discuss the relevant costs in accepting an order at a special price.

Question 8: Smith & Company claims that the relevant range concept is only important for variable costs. Explain the relevant range concept and discuss whether you agree with Smith & Company.

Question 9: What is a CVP analysis and how is it used in managerial accounting?

Question 10: What is the difference between: unit-level, batch-level, product-level, and facility-level activities?

Reference no: EM13817439

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