Management accounting should not fit the straitjacket of financial accounting. Explain and give an example.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
In Canada financial accounting is constrained by generally accepted accounting principles GAAP Compa...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 978-0133392883
6th Canadian edition
Authors: Horngren, Srikant Datar, George Foster, Madhav Rajan, Christ
Question Posted:
Students also viewed these Managerial Accounting questions
-
Management accounting should not fit the straitjacket of financial accounting? Explain and give an example.
-
Explain and give an example as to how a manager can manipulate the return on investment figure in the short run. Why are these manipulations bad for the company in the long run? Suggest some...
-
Explain cost-based pricing and give an example that shows how prices would be determined using this method.
-
Shown below is information from the financial reports of Knauss Supermarkets for the past few years. Instructions a. Calculate the following statistics for Knauss Supermarkets (round your answers to...
-
Prove that the conclusion of Theorem 9.8.1 still holds when the loss function is given by for arbitrary positive functions w0() and w1(). Replicate the proof of Theorem 9.8.1, but replace the...
-
You create an asymmetric butterfly using put options. You purchase 4 options with a strike of 40 and take additional positions in puts with strikes of 60 and 65. What is the maximum payoff you could...
-
The velocity profile for turbulent flow in circular pipes is often approximated by the \(1 / 7\) thpower law: \[\bar{v}_{z}=v_{\max }(1-r / R)^{1 / 7}\] Find an expression for the cross-sectionally...
-
Massa Company, which has been operating for three years, provides marketing consulting services worldwide for dot-com companies. You are a financial analyst assigned to report on the Massa management...
-
More generally, evaluate the new Federal Government policies: 1 What are the pros and the cons of the FDIC guarantee of debt? 2. Pros and cons of executive compensation restrictions? 3. Pros and cons...
-
Richard chooses technique 0 and 2 requiring 10+10-20 efforts and provising 10+11=21 benefits. Hence, 21 is returned as the output Example 2: input1: 3 input2: (10,10,10,10) input3: (10,11,12,15)...
-
Conner Company makes and sells brooms and mops. It takes the following actions, not necessarily in the order given below. REQUIRED For each action (15 below), state whether it is a planning decision...
-
Five-step decision-making role of relevant accounting information. Garnicki Foods makes frozen dinners that it sells through grocery stores. Typical products include turkey dinners, pot roast, fried...
-
ABC Company sells 10,000 units of a product at $30 per unit. This is the first year of operations so there is no beginning inventory of finished units. The following information is available: Units...
-
Corporate social responsibility enhance firms' access to a wider source of funding by attracting investors who are conscientious about the environment. List two other ways in which corporate social...
-
1.Why is capital a more important measure of the size of a securities firm than the amount of assets? 2. What other measures would be useful given the diversity of this industry?
-
Describe one of the key influences on society from the significant increase in assets under management (across mutual funds, pension funds, and retail investment holdings) into passive management....
-
Wally Beaver won a lottery and will receive a check for $2,500 at the beginning of each 6 months for the next 6 years. If Wally deposits each check into an account that pays 6%, how much will he have...
-
Becky's brother has an investment account that he says earns an average of 13% each year. If this is the case, about how long will it take him to double his money?
-
Managing by walking around is a technique supervisors can use to a. Estimate their labor costs. b. Modify employee task lists. c. Established career development paths. d. Note deviations from...
-
Graph the following conic sections, labeling vertices, foci, directrices, and asymptotes (if they exist). Give the eccentricity of the curve. Use a graphing utility to check your work. 10 5 + 2 cos 0
-
Niagara Inc. manufactures apple products such as apple jelly and applesauce. It makes applesauce by blending Tolman, Golden Delicious, and Ribston apples. Budgeted costs to produce 100,000 kilograms...
-
Distinguish between a favourable variance and an unfavourable variance.
-
Stevie McQueen has run Lightning Car Detailing for the past 10 years. His static-budget and actual results for June 2015 are provided below. Stevie has one employee who has been with him for all 10...
-
What are some scholarly sources that support the implementation of a case manager?
-
Review your own current processes relating to ER and IR within the organisation and identify three issues that can be improved upon.
-
A group of students working on a collaborative research project needs a centralized space to store and edit their documents. Which Teams feature should they primarily use?
Study smarter with the SolutionInn App