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Home Page Social Science Economics Finance Accounting Financial Accounting vs. Managerial Accounting - Flashcards

Financial Accounting vs. Managerial Accounting – Flashcards

August Dunbar
7 July 2022
18 test answers

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question
mainly for external use
answer
financial
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mainly for internal use
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managerial
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helps external users make financial decisions
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financial
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helps managers make decisions, plan, direct, and control
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managerial
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driven by GAAP
answer
financial
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not driven by GAAP
answer
managerial
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looks at the previous year
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financial
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looks to the future
answer
managerial
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ONLY financial data
answer
financial
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not just financial data
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managerial
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prepared quarterly or annually
answer
financial
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prepared any time, anywhere, for any purpose
answer
managerial
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all about verifiability
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financial
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all about relevance (timeliness)
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managerial
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focuses on company as a whole
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financial
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focuses on operating segments
answer
managerial
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not so detailed
answer
financial
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very detailed
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managerial
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What is the right structure for an essay
Answer
A paragraph is a related group of sentences that develops one main idea. Each paragraph in the body of the essay should contain:
  • a topic sentence that states the main or controlling idea
  • supporting sentences to explain and develop the point you’re making
  • evidence from your reading or an example from the subject area that supports your point
  • analysis of the implication/significance/impact of the evidence finished off with a critical conclusion you have drawn from the evidence.