University Of Pennsylvania Operations And Supply Chain Management Assignment Help - Managerial Accounting

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Chapter 1 Assigned Questions 1–1 How does managerial accounting differ from financial accounting?
Managerial accounting is different from financial accounting in that Managerial accounting deals more
with planning, controlling, and decision making within an organized group or company. Whereas,
financial accounting is data and information that is presented to a third-party or another company
about that business. Also, managerial accounting deals with future decisions and timeliness. They do
not comply with the GAAP/IFRS. On the other hand, financial accounting deals with past
consequences and precision. Financial accounting does have to comply with GAAP/IFRS. 1â€â ...Read More €œ3 If you
had to decide whether to continue making a component part or to begin buying the part from an
overseas supplier, what quantitative and qualitative factors would influence your decision? 1–5 Why is
managerial accounting relevant to business majors and their future careers? 1–8 Why do
management accountants need to understand their company's strategy? 1–13 Why do companies
that implement Lean Production tend to have minimal inventories? 1–14 Why are leadership skills
important to managers? 1–15 Why is ethics important to business? ...Read Less

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