Managerial Accounting is different from Financial Accounting in that <em>c. Managerial accounting includes many projections and estimates whereas financial accounting has a minimum of predictions.</em>
The differences between Managerial Accounting and Financial Accounting do not arise because of Managerial accounting:
- Focuses on the organization while financial accounting focuses on projects, etc.
- Never includes non-monetary information; it includes non-monetary information than financial accounting
- Used by investors, while financial accounting is used by creditors
- Structured and controlled by GAAP.
Thus, the difference between the two is that Financial accounting is structured and controlled by GAAP and used by <em>investors and creditors</em>. Managerial accounting is not structured by GAAP and is used by <em>management</em> in decision-making.
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Answer:
It is likely that the way things are done in Ronson Foods is not the same as it is obtainable in East Coast Organics,I meant cultural differences.
Explanation:
Without mincing words,culture is about the way things are done in a particular business environment,ranging from the kind of attitude to work expected from employees,their dress code,those things that are acceptable during working hours and those that are not acceptable.
For instance, in some organizations it is forbidden to smoke or drink during office hours while it is not a problem at all in some others,what is important is job delivery.
The major challenge with the prospective acquisition of East Coast Organics is cultural blend.
How do we achieve a balance between the two cultures that would be equitable enough for employees to adjust accordingly.
It might so interest one to note that cultural differences might force productive employees of East Coast Organics to another company where such issue does not arise.
Answer:
Debit Insurance Expense 440
Credit Prepaid Insurace 440
Explanation:
Since on January 1, the company purchased a five year insurance policy for $2,200 that means we have to divide the insurance policy amount of $2,200 by the numbers of year which is 5 years .
Hence:
$2,200/5 years
=440
Therefore the adjusting entry at the end of the first year is:
Debit Insurance Expense 440
Credit Prepaid Insurace 440
Answer: She should pay down both her student loan and the credit card debt
Explanation:
From the question, we are informed that Anastasia makes a good salary but wants to be sure she has good credit so she can buy a condominium when she has saved enough money for a down payment on a mortgage.
The best thing she can do to improve her creditworthiness is for her pay down both her student loan and the credit card debt. This would help her to increase her creditworthiness.
Answer:
B. Firms that produce advertising trade in a "two-sided market".
Explanation:
It is a business model for economic exchange between two distinct user groups.