Answer: Explicit Costs
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Answer:
The advertising career that interest me the most is marketing
Explanation:
Answer:
The depreciation cost per year is:
Year 1: $16,800
Year 2: $31,200
Year 3: $27,600
Year 4: $15,120
Explanation:
To calculate the depreciation cost for the equipment based on hours used, we must determine the cost per hour:
cost per hour = (purchase cost - salvage value) / expected useful life
cost per hour = ($93,420 - $2,700) / 7,560 hours = $90,720 / 7,560 hours = $12 per hour
The depreciation cost per year is:
Year 1: 1,400 hours x $12 per hour = $16,800
Year 2: 2,600 hours x $12 per hour = $31,200
Year 3: 2,300 hours x $12 per hour = $27,600
Year 4: 1,260 hours x $12 per hour = $15,120
Answer:
The complete answers are below.
Explanation:
a) The main difference between Financial Accounting and Managerail Accounting is its purposes and the stakeholders who make use of the information that each one provides.
While financial accounting refers to the aggregation of accounting information in the financial statements, management accounting refers to the internal processes used to account for business transactions.
For instance: Financial accounting reports on the results of an entire business, Managerial accounting reports at a more detailed level. Financial accounting must comply with various accounting standards, whereas managerial accounting does not have to comply with any standards when information is compiled for internal consumption.
b) The financial statements most frequently provide are: Balance Sheet or Financial Position, Income Statement, Statement of cash flows and Statement of Changes in Equity.
c) In general, financial reports and financial statements differ in the formal status of financial statements in business and accounting, and these respond to standards such as GAAP and IFRS. While the financial reports have a format or presentation rules given by management, the financial statements, in the other hand, are prepared on regular basis as specific entities are required to do so according to applicable laws. It can be said that financial accounting provides financial statements and managerial accounting is responsible for financial reports.
