What Are the Differences Between Managerial Accounting and Financial Accounting

question 213

Essay

What are the differences between managerial accounting and financial accounting? From a career standpoint, which type do you prefer and why?

Analyze and calculate cash flows related to investing activities, including the sale of assets.

Determine the presentation order of activities on the Statement of Cash Flows.

Understand the reporting of cash dividends and their classification in the Statement of Cash Flows.

Understand the concept of cash flows from operating, investing, and financing activities.

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Definitions:

Destroyed

Refers to something that has been completely ruined or rendered unusable.

Fixture Test

A legal test used to determine whether a physical object is permanently attached to real property and thus considered a fixture, affecting the object's legal treatment in terms of possession and property rights.

Realty

Real estate, referring to the ownership of land and property.

Affixed

Attached or secured to something in a permanent or semi-permanent way.