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Q: Explain the difference between management accounting and financial accounting.

A: ANSWER : Basis of difference Management accounting Financial accounting 1. Meaning…

Q: Focus on individual part or segment of business” explain this statement according to management…

A: Segmentation in a business can be done in a various ways like geographically, product wise, areas of…

Q: ation differ

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: Accounting and business management are two distinct disciplines

A: Accounting is the process of documenting a business's financial transactions. These transactions are…

Q: Why there is branches of accounting

A: Accounting is the procedure of analyzing, recording, classifying, and summarizing the accounting…

Q: Which one of the following accounting concepts/conventions enables the business to make comparative…

A: Accounting is process of recording the monetary transactions occur during the financial year. It…

Q: Why is a knowledge of accounting terms and concepts use-ful to persons other than professional…

A:

Q: Write suitable discussion related to (i) the definitions of accounting and the forms of the…

A: (i) Accounting is the practice of keeping track of a company's financial activities. Summarizing,…

Q: Which of the following factors should influence business and accounting decisions?a. Economicb.…

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: n the role of the accounting system according to the agency theory

A: Agency theory is one of the common problem in the organization form of the system and that exist due…

Q: What are some of the uses that management may make of accounting information about individual…

A: In a company, generally, various divisions have been made according to the type and flow of work.…

Q: Which accounting system supports decision-making in the business? O a. Personal accounting O b. Cost…

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: How do accounting and business administration differ?

A: The term Business Administration has a wider scope than Accounting. A few of them are outlined…

Q: Focus on a certain section or sector of the firm" How would management accounting and financial…

A: Introduction : Segmenting a company may be accomplished in various ways, including geographically,…

Q: What is the cornerstone of accounting ethics?

A: Introduction: Accounting ethics is a subset of applied ethics that is linked to business ethics and…

Q: n what ways do accounting firms differ from one another?

A: solution concept accounting firms Accounting firms means a firm established for the purpose of…

Q: Why is it important to organizationally separate the accounting function from other functions of the…

A: Accounting functions: The functions that are related to maintenance of records of the financial…

Q: In accounting, an economic entity may be defined as- a. a business enterprise…

A: The accounting is based on various principles and standards.

Q: What precisely distinguishes accounting from business admin

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: But what's the distinction among accounting and management

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: What is the distinction between accounting and business administration?

A: Here is the Answer

Q: Draw a comparison between the formal accounting systems as applied in the formal business sector and…

A: Formal Accounting System Formal Accounting system is a system where all the principles of accounting…

Q: What is meant by "financial accounting" and "management accounting"? What is the difference between…

A: Financial Accounting:    It is collection of accounting data to create financial statements. It…

Q: g and business adminis

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: Accounting and business environment are commonly interchanged.

A: Accounting refers to the process of recording financial transactions of a business concern in order…

Q: Who are the key users of accounting information? What type of information does each stakeholder…

A: Accounting: Accounting refers to the information system, where the economic activities of a business…

Q: Explain why establishing accounting standards is characterized as a politicalprocess

A: The standard setting process is a political process that is affected by the impact of several…

Q: Which is one of the most important roles of the accounting function within an organization?

A: Accounting Function: Accounting function are the functions related to maintenance of records of the…

Q: What effect do a company's business operations and areas of business have on the architecture of its…

A: The following will illustrate how a company's business procedures and areas of business impact the…

Q: What  is  the  double entry  system  in accounting?

A: Solution Note : Dear student as per the Q&A guideline we are required to answer the first…

Q: Historically, what factors contributed to the diversity of accounting systems worldwide?

A: The following are the five major factors that have contributed to the diversity of accounting system…

Q: How distinguishes business administration form accounting

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: As used in the definition of accounting, an economic entity may be a. a business enterprise b. an…

A: Answer is 'D'.  All of the above An economic entity may be a business enterprise or  an individual…

Q: Briefly describe the reason of organization separate the accounting function from other function in…

A: Accounting Function: Accounting function are the functions related to maintenance of records of the…

Q: What are the three basic business activities that financial accounting seeks to measure and…

A:

Q: Why is the accounting cycle critical to a business's success? (examples of why certain actions are…

A: Answer: Accounting cycle can be defined as the whole procedure that is run for any business to…

Q: Which type of accounting information is intended to satisfy the needs of external users of…

A: Financial accounting, management accounting and cost accounting are different forms of accounting.…

Q: What is the difference between accounting and business administration

A: Both accounting and administration are critical components of business operations. They are mutually…

Q: What is the role of ethics in accounting and business?

A: Ethics means the principles that govern a person's behavior and activities. These are the morals…