Fortunately,managerial accounting is very different from financial accounting. I have had a number of students in the past who hated financial accounting but really liked managerial accounting. Typically, most non-accounting majors feel that managerial accounting is more relevant to their field....
Investing activities often refers to the cash flows from investing activities, which is one of the three main sections of the statement of cash flows (or SCF or cash flow statement). In this section of the SCF the company lists its cash inflows and cash outflows resulting from the disposal...
While payroll is not included in AP, it appears on the balance sheet as another of the business’s current liabilities. This amount is referred to as wages payable. Benefits of Accounts Payable Automation Businesses can streamline the accounts payable process with their accounting software tool. In...
What is accounting in the hospitality industry? Like in any other business, accounting in the hospitality industry involves tracking income and expenses, managing cash flow, preparing financial statements, and other financial record-keeping activities. Some specific examples of financial activities in hosp...
But for many executive administrative assistant CVs, you’ll need a bachelor of arts. Either way, this is how to put education on an AA CV: BA in Business Economics—2012 University of Manchester Relevant coursework: Introduction to Managerial and Financial Accounting. See that? It’s not just...
What are the three basic activities of accounting? What are two types of accounting methods? Which type does GAAP prefer? Discuss five important facts about GAAP and why they are important. What are some of the issues that come up with intangibles under IFRS (i-GAAP)? What are the stockhol...
Battle of the Sexes Imagine a scenario where a couple, Alice and Bob, want to spend an evening together, but they have different preferences for their activities. Alice would like to go to a romantic movie, while Bob prefers watching a football game. They both have two choices: movie or ...
Activities What are the types of relevant costs? There are four types of relevant costs that categorize how these costs are relevant to a company's operations. They include future costs, opportunity costs, avoidable costs, and incremental costs. What are relevant costs and irrelevant costs? A ...
Activity-based costing (ABC)identifies overhead costs from each department and assigns them to specific cost objects, such as goods or services. ABC cost accounting is based on activities, which refer to any event, unit of work, or task with a specific goal—such as setting up machines for ...
Marginal cost is an economics andmanagerial accountingconcept most often used among manufacturers as a means of isolating an optimum production level. Manufacturers often examine the cost of adding one more unit to their production schedules. At a certain level of production, the benefit of producing...