Is Financial Accounting or Management Accounting More Useful to an Operations

question 155

Essay

Is financial accounting or management accounting more useful to an operations manager? Why?

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Definitions:

Unique Goods

Items that are distinct due to their design, quality, or rarity, often making them irreplaceable in transactions.

International Sale of Goods

Refers to the sale transaction of goods between parties situated in different countries, governed by international agreements like the CISG.

Letter-of-Credit Transaction

A financial transaction in which a bank guarantees the payment of a buyer's obligations to a seller, provided that the seller meets the specified terms of the sales agreement.

Bill of Lading

A legal document between a shipper and carrier detailing the type, quantity, and destination of goods being shipped.