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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I would say Influence consideration. Influence consideration with people who are researching a product or service but haven't yet made a purchasing decision. Drive action or sales with people who want your product or service and are ready to become customers or subscribers.
Two methods of accounting for uncollectible accounts are the direct write-off method and the allowance method.
<u>Explanation:</u>
Direct written-off method:
Here, the charging of bad debts in expense only when individual invoices are identified as uncollectible.
Allowance method:
Here, an estimate of future value of bad debt is charged in reserve account after a sale is completed.
<em>Difference between direct write-off method and the allowance method:</em>
Accuracy: The accurate amount of the bad debt expense is noted under direct write-off method as specific invoice is being noted, while only approximate value is charged off under allowance method.
Timing: The bad debt expense identification is delayed under direct write-off method, while it is quick under the allowance method.
Receivable line item: It is low under allowance method, since reserve is being evaluated against receivable amount.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Estimated manufacturing overhead $75,000
Direct labor hours incurred 4,800
Direct labor hours estimated 5,000
A) Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 75,000/5,000= $15 per direct labor hour
B) Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 15*4,800= $72,000
Answer:
Drive Nissan for three more years then buy a Hyundai.
Explanation:
See the attached picture for further explanation.
