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

Question - Detailed answer to the questions please. Document Preview: 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. 1–3 If you ...Read More

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