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.
Answer:
Effectiveness, Efficiency in management to achieve organisation goals/ objectives - survival, profit & growth : can make some firms consistently outperform industry averages
Explanation:
Effective & Efficient Management , keen to make organisation achieve its short term & long term goals : can make firm(s) outperform industry average.
Management is the art of getting things done with the aim of achieving organisation goals/ objectives . Organisational objective include : Survival , Profit (market standing) & Growth (innovation) . Effectiveness (getting things done on time) & efficiency (getting best output out of least input) are core aspects of organisation goals achievement.
Good management is very crucial to an organisation's successful performance. It can make organisation achieve right targets at the right time in the right manner. This correct coordination of activities, time & manner can make an organisation realise its potential to the fullest & outshine in its industry.
Answer: the total number of budgeted direct labor hours for the year. - 600 DLH
the single plantwide factory overhead rate- $100 per DLH
the factory overhead allocated per unit for each product using the single plantwide factory overhead rate. Speedboats $ per unit Bass boats $ per unit--- For Both Products $1,200
Explanation:
Melissa's characteristics that are not consistent with entrepreneurship is that Melissa tends to put things off until later.
<h3>What is entrepreneurship?</h3>
Entrepreneurship refers to the activity of setting up a business that takes financial risks in the hope of profit.
The missing options in the questions are
- Melissa has high self-confidence.
- Melissa tends to put things off until later.
- She is untroubled by uncertainty.
- She has a high need to achieve.
- She has a high energy level.
Melissa is a very good middle manager. However, she has for a very long time wanted to open her own business. Melissa's characteristics that are not consistent with entrepreneurship are she tends to put things off until later.
Therefore, B is the correct option.
Learn more about Entrepreneurship here:
brainly.com/question/18203575
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One technique in answering behavior interview questions is STAR where S makes for specific situation, T for task, A for action and R for result. SImple but efficient procedure
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