Answer:
they will actually experience 2 years of unemployment
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.
The first Year of your business’s operations
Answer:
Sole Purpose Shoe Company
The reason for Sarah to want to use standard costs to compare with her actual costs is:
A) Management can evaluate the differences between standard costs and actual costs to focus on correcting the cost variances.
Explanation:
Standard costs provide a control technique for evaluating the Sole Purpose Shoe Company's performance at three levels: a standard performance level, a measure of actual performance, and a measure of the difference (variance) between standard and actual costs. Sarah will use the variance resulting from the comparison of standard costs with actual costs to measure the non-financial performance of the entity.
Answer:
$454,000
Explanation:
Ending inventory is the value of the inventory in the store at the end of the year.
Goods are purchased and added to the the beginning inventory, the sale for the period is deducted from it. the residual value is the value of ending Inventory.
In This question it is assumed that there is $26,000 of beginning inventory of the goods. $470,000 of the purchases were made and at the end of the year there was $42,000 balance of inventory.
We can calculate the deduction value as follow
Ending Inventory = Beginning Inventory + Purchases - deduction
$42000 = $26,000 + $470,000 - deduction
$42000 = $496,000 - deduction
Deduction = $496,000 - $42,000 = $454,000