pay as much as possible each month. This saves finance charges in long run.
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.
Calculate for the total earnings gained from working by multiplying the number of hours worked and the hourly wage.
E = (27.25 hours)($5.15 /hour) = $140.3375
The total taxes and items that need to be paid is,
T = $6.19 + $10.74 + $6.37 = $23.3
Subtracting from the total earnings the latter,
NP = $140.3375 - $23.3 = $117.04
Answer is the third choice, $117.04.
Answer:
We should not take the contract
Explanation:
Net present value = Initial investment + Present value of cash inflows
Net present value = -95000 + 100000/1.08
Net present value = -2407.41
Thus, the contract should not be taken because the NPV is negative