Question: (1stquestion) Discuss the differences between financial and managerial accounting. What types of financial statements are used by business organizations? (2ndquestion) Compare and contrast the development

(1stquestion) Discuss the differences between financial and managerial accounting. What types of financial statements are used by business organizations?

(2ndquestion) Compare and contrast the development and use of GAAP and IFRS. Do you think the implementation ofinternational accounting standardsis feasible? Please explain.

(3rdquestion) Look at the origins and purposes of accounting and discuss how our society's development has been affected by its use. Could our society function as it currently does without accounting? Please explain.

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