University of Phoenix Material Role of Financial Accounting Versus Managerial Accounting Matrix Compare and contrast financial accounting and managerial accounting by answering the following questions in the matrix provided. Cite any sources you use in accordance with APA guidelines. Term or Concept Financial Accounting Managerial Accounting What is the primary purpose of the accounting system? The primary purpose is to produce forms portraying a company’s performance over a period of time
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CHAPTER 1 (Introduction to Management Accounting) P-1-4A The following data were taken from the records of Clarkson Company for the fiscal year ended June 30‚ 2014. Raw Materials Factory Insurance $ 4600 Inventory 7/1/13 $ 48000 Factory Machinery Raw Materials Depreciation 16‚000 Inventory 6/30/14 39‚600 Factory Utilities 27‚600 Finished Goods Office Utilities Expenses 8‚650 Inventory 7/1/13 96‚000 Sales Revenue 534‚000 Finished Goods Sales Discounts
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Financial accounting and management accounting both prepare and analyze financial data. However‚ certain aspects of these two fields are very different. This article discusses the various differences between financial accounting and management accounting. The differing characteristics to be discussed include the users of information‚ the types of information‚ regulatory oversight‚ and frequency of reporting. Users of Information Financial accounting and management accounting provide information
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References: Edmonds‚ T.P.‚ Tsay B.‚ & Olds‚ P.R. (2011). Fundamental Managerial Accounting Concepts. New York‚ NY: McGraw-Hill Itrwin.
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This propaganda poster was designed by a German propaganda artist during World War 1. In occupied Belgium‚ secret resistant groups were established from the hostility of the civilian population fuelled not only by the war itself but by the massacres accomplished by the German invasion. This caused disruptive complications for the German Government causing propaganda to be used. The Great War began in the year 1914 when Austria declared war on Serbia ultimately causing chaos across the globe. Allies
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country with colonial superiority had majority influence meaning the struggle to be part of the most prestigious empire was at the heart of the many countries around Europe. As Crowe stated‚ ‘The dream of a colonial empire had taken a deep hold on the German public opinion.’ This craving for international power led to strained relations and various clashes in the build up to WW1‚ for example‚ the First Moroccan Crisis. France (and Britain) issued a programme of reform to bring Morocco stability‚ and in
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COST ACCOUNTING M.ASAD ABBAS PAF KIET TABLE OF CONTENTS Executive Summary ......................................................................................................3 Introduction .....................................................................................................................4 Costing Strategy of Vesta Apparel.............................................................................5 Full Cost of the Primary
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the world and two of the most common dogs are Chihuahuas and German Shepherds. Each completely the opposite of each other like Chihuahuas barely shed‚ are low energy and do not eat much and vice versa with German Shepherds. For people who wouldn’t want a house full of dog hair then low shedding dogs such as the Chihuahuas would be ideal. If you don’t mind cleaning every day and would make the sacrifice to get a good dog then a German shepherd would meet the criteria. Along with pet hair dogs also
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is that: A) the units in beginning inventory are not necessarily assumed to be completed by the end of the period B) the units in beginning inventory are assumed to be completed first C) ending inventory will always be completed in the next accounting period D) no calculation of conversion costs is possible 3) In a normal costing system‚ the Manufacturing Overhead Control account: A) is increased by allocated manufacturing overhead B) is credited with amounts transferred
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In recent years‚ the range of accounting application is expanding rapidly‚ along with the increasing demand of economic market. As is well known‚ accounting is a key aspect of business. And in the accounting profession‚ there has been already existed interpenetration and overlapping among the different kinds of accounting. Cost accounting and financial accounting are two main components of accountancy. The former one is a part of accounting. In cost accounting‚ it dramatically researches the variable
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