Exercise 11 Differentiating Between Managerial and Financial Accounting (Lo1 - C

Question

Exercise 11 Differentiating Between Managerial and Financial Accounting (Lo1 - CCz) Classify the following activities as primanily managerial accounting or financial accounting a. Preparing a cash budget for the next quarter b·Analyzing the profitability of a request from a potential customer c. Accumulating the transactions for the previous six months to prepare an income statement. d. Preparing a weekly performance report for the branch manager e. Preparing an announcement to be released to the financial analysts

Explanation / Answer

a. Preparing a cash budget for the next quarter - Management Accounting

b. Analyzing the profitability of a request from a potential customer - Management Accounting

c. Accumuating the transactions for the previous six months to prepare an income statement - Financial Accounting

d. Preparing a weekly performance report for the branch manager - Management Accounting

e. Preparing an announcement to be released to the financial analysts - Financial Accounting

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