Answered: 1.) Discuss the difference between…

1.) Discuss the difference between managerial accounting and financial accounting and their impact to Information Technology industry

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 6MC: Managerial accounting produces information: to meet the needs of external users that is often...

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Question

1.) Discuss the difference between managerial accounting and financial accounting and their impact to Information Technology industry.

2.) You are the CEO of your own IT Company. Based on the cost concepts that we have discussed, identify at least three (3) costs being used and provide possible solutions how to control these costs.

3.) Being in an IT Field, you know the importance of optimizing your processes to see growth through efficiency. How can financial statement analysis contribute?

4.) Accounting is the language of business. Using this context, discuss the importance of financial statement to businesses.

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