What are the main differences between financial accounting and management accounting?

2 Explain the three key processes in management accounting and the two types of overhead management processes that are the focus on Management accounting.

3 Explain the formula for the cost of goods manufactured.

4 Explain how costs flow from financial accounting to management accounting?

5 Define controlling objects, and identify some examples.

6 Explain the difference between a real object and a statistical object.

7 How many real postings and statistical postings can a single transaction generate?

8 Explain the differences between periodic activity allocation and internal activity allocation.

9 Explain the assessment and distribution techniques of periodic allocation highlighting the key differences between the two.

10 What is the primary enterprise structure that is discussed in this chapter?

11 What are the pros and cons of the decentralized and centralized models of cost accounting?

12 Explain the differences among controlling area currency, object currency, and transaction currency.

13 What is the purpose of number ranges in management accounting?

14 What are the key activities involved in settlement, and how are they executed?

15 Discuss the primary purpose of internal order accounting and explain the use of the three internal order types highlighted in this chapter.

16 Define and explain the two types of cost elements.

17 Explain standard hierarchy, cost center groups, and cost centers.