1-2,1-3,1-5,1-6,1-7

1-1 What is the basic difference in orientation between financial and managerial accounting? 1-2 What are the three major activities of a manager? 1-3 Describe the steps in the planning, Implementation, and control cycle. 1-4 What are the major differences between financial and managerial accounting? 1-5 Describe the lean business model and its corresponding management practices. 1-6 What are the pros and cons of a JIT system? 1-7 "It is vital that management accountants abide by a code of ethics." Do you agree or disagree? Explain