Primary Task Response : Within the Discussion Board area, write 400–500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future...

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Primary Task Response: Within the Discussion Board area, write 400–500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:


Post to the Discussion Board your thoughts on the difference between managerial accounting and financial accounting. Your post should include the following:



  • Define and explain the differences and similarities.

  • Review at least 3 criteria forboth types of accounting.

  • Be sure to discuss the importance ofboth of these areas of accounting to a business.

  • Decide which you think you would prefer to pursue as a career if given the choice. Explain why.

  • Explain the difference between mixed, variable, and fixed costs.

  • Define and explain job order costing.

  • Name two types of business where job order costing could be used.

Answered Same DayOct 15, 2021

Answer To: Primary Task Response : Within the Discussion Board area, write 400–500 words that respond to the...

Nitish Lath answered on Oct 17 2021
153 Votes
Managerial and financial accounting analysis:
Both accountings are the different branch of accounting and ha
ve various similarities and differences. The major differences between these two are as below:
· Financial accounting is an accounting which is used to collect the financial data and financial statements are prepared using financial accounting whereas managerial accounting is used for internal business processes and to determine the costs of products manufactured.
· Financial accounting is used to analyze the profitability of business whereas another one is used to identify the causes of problem and its resolution within the organization.
· Financial accounting is focused on past accounting whereas managerial accounting is focused on future accounting.
The similarities between these two accounting are as below:
· Both the accounting system are part of total accounting information mechanism.
· Both accounting have monetary and economic element included.
· Same database is used for preparation of reports under both accounting.
Both the accountings are very...
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