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Wk1 DQ - Managerial Accounting

28/10/2020 Client: sarahhitz Deadline: 7 Days

 Question:


Please answer each of the following questions in detail. Provide in-text citations and include examples whenever applicable.



  1. Explain the difference between public accounting and managerial accounting. Provide a hypothetical example of an income statement for public reporting. Provide a hypothetical example of managerial accounting income statement in process costing format. Explain your examples in detail.

  2. Explain operating cost classifications in managerial accounting, namely, manufacturing vs. selling/admin, variable vs. fixed, direct vs. indirect, and variable overhead vs. fixed overhead. Include examples for all.

  3. Explain the predetermined variable overhead criterion and include an example. 




Note:


1. Define the words in the own words. Do not directly quote from the textbook.


2. Need to write at least 2 paragraphs


3. Need to include the information from the textbook as the reference.


4. Need to include at least 2 peer reviewed article as the reference.


5. Need to provide the examples whenever applicable.


5. Please find the related power point in the attachment




Textbook information:


Wild, J., & Shaw, K. (2019).  (8th ed.). Financial and managerial accounting: Information for decisions. McGraw-Hill

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