1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sasho [114]
3 years ago
10

What is the difference between financial and managerial accounting ?

Business
1 answer:
horrorfan [7]3 years ago
8 0

Answer:

Financial accounting refer to the financial statement while, managerial is more focus into internal reports

In details, the most difference are as follows:

Aggregation.

Financing reports on the complete firm. While Managerial; at product, division or customer level.

Proven information.

Financing require certain criteria to ensure precision. It need to prove correct to third parties. While Managerial uses budget, forecast and estimated values.

Reporting focus.

Financial accounting is oriented toward outside

Managerial accounting analysis stays within a company.

Legislation:

Financial accounting faces the GAAP, IFRS and heavy legislation.

Managerial accounting doesn't

Time period.

Financial accounting has a historical orientation their reports are resumes of past transactions and operations.

Managerial accounting has a future orientation.

Timing.

Financial Statement are done at end of an accounting period.

Managerial accounting issues on demand of the board or supervisor.

You might be interested in
After a loan is sold in the secondary market, the originating lender may be required to repurchase the loan due to
svetoff [14.1K]

Answer:

hard work thats hard thinking

Explanation:

just try your best

6 0
2 years ago
During 2019, Travis purchases $13,000 of used manufacturing equipment (7-year property) for use in his business, his only asset
skelet666 [1.2K]

Answer:

$13,000

Explanation:

Most property purchased during 2019 and beyond, may be expenses using Section 179 tax deductions. The limit for 2019 was $1 million and that is way more than $13,000. Section 179 is one of the few benefits that small business got from the Tax Cut and Jobs Act, and it can be really useful.

Businesses can deduct the full purchase price of qualifying equipment (used manufacturing equipment qualifies) as long as it was purchased after January 1, 2019. This is an incentive created to encourage businesses to buy more equipment and invest more.

5 0
3 years ago
Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $354,000 and credit sa
Dmitry_Shevchenko [17]

Answer:

Dr Bad Debt Expense $12,760

Cr Allowance for Doubtful Accounts $12,760

Explanation:

Based on the information given the adjusting journal entry that Tanning Company will make if the Allowance for Doubtful Accounts has a credit balance of the amount of $1,400 before adjustment will be :

Dr Bad Debt Expense $12,760

Cr Allowance for Doubtful Accounts $12,760

[(4%*$354,000)-$1,400]

4 0
2 years ago
Community college credits never transfer to a 4 year institution
vampirchik [111]
False they can transfer credits
7 0
3 years ago
The real wages of workers will tend to be high when
DIA [1.3K]

Answer:

When labor productivity is high.

Explanation:

According to neoclassical economic theory, real wages are equal to the marginal product of labor (MLP). The marginal product of labor is the extra output produced by one extra unit of labor (one extra worker).

If the MPL is high, this means that workers are very productive, and therefore, are paid a high real wage accordingly.

This is why countries with high labor productivity like the U.S. or Switzerland also have very high real wages.

6 0
2 years ago
Other questions:
  • A 10-year bond of a firm in severe financial distress has a coupon rate of 14% and sells for $900. The firm is currently renegot
    15·1 answer
  • For each of the following cash flows amounts ($ millions), identify whether the company is in the introduction, growth, maturity
    10·1 answer
  • If the seller fails to provide the property disclosure statement to the buyer before the buyer signs the purchase contract,
    7·1 answer
  • Suppose the marginal propensity to consume is 0.8 and the government votes to increase taxes by $3 billion. Round to the nearest
    5·1 answer
  • (Disregard income taxes in this problem.) Compute the following:a.An investment of $10,000 has an investment/inflow ratio of 6.2
    9·1 answer
  • Rory is the CFO of McIlroy Golf Designs Inc. MGDI earned $13 million last year and maintains a 30% dividend payout ratio. The co
    5·1 answer
  • Suppose the demand curve for a product is given by Q = 11 - 2P + 3Ps Where P is the price of the product and Ps is the price of
    13·1 answer
  • Francina, who just started her first job, had been repaying her luxury sports car loan until she stopped payments two months ago
    14·1 answer
  • What does the video recommend if you notice a lot of fees appearing on<br> your statement?
    15·1 answer
  • Ruby, a seventeen-year-old, purchases a car from Smitz Used Auto Sales and agrees to pay for it over a period of twenty-four mon
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!