ACC 349 Week 1 Discussion Questions

This work ACC 349 Week 1 Discussion Questions has right answers on the following questions:

  1. What are some of the key differences between financial and managerial accounting? How do these differences impact the type of information that must be gathered and reported? What are the different types of decisions that users of financial accounting information must make?
  2. What are the differences between job-cost and process-cost systems? When would it be appropriate to use each type of system? What is the effect of each system on the product cost?
  3. What are the differences between a direct cost and an indirect cost? Which is the more difficult cost to track? Why? How do indirect costs affect the cost of a product? Should indirect costs be included in product cost? Why or why not?
  4. Explain the similarities and differences in Managerial and Financial Accounting. After you review the Feature Story in Chapter 1, explain how the management functions of both could help HP and/or Dell. Which has done a better job in your opinion? Why?
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