Accounting Question

7/3/23, 11:55 AMACT-500-MASTER-Managerial Accounting
Name
Discussion 25
Description
25 points
Rubric Detail
Levels of Achievement
Criteria
Exceeds
Expectations
Meets
Expectation
Some
Expectations
Unsatisfactory
Quantity
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Initial post and
two other posts
of substance.
Initial post and
one other post
of substance.
Initial post only.
Did not
participate.
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Demonstrates
excellent
knowledge of
concepts, skills,
and theories
relevant to the
topic.
Demonstrates
knowledge of
concepts, skills,
and theories.
Demonstrates
satisfactory
knowledge of
concepts, skills,
and theories.
Did not
participate.
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Discussion
post(s) exceed
expectations in
terms of support
provided and
extend the
discussion.
Discussion
post(s) meet
expectations in
terms of
support
provided.
Statements are
satisfactory in
terms of
support
provided.
Did not
participate.
6 to 7 points
4 to 5 points
1 to 2 points
0 to 0 points
Writing is well
organized, clear,
concise, and
focused; no
errors.
Some significant
but not major
errors or
omissions in
writing
organization,
focus, and
clarity.
Numerous
significant
errors or
omissions in
writing
organization,
focus, and
clarity.
Did not
participate.
Content
Support
Writing
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ACT-500-MASTER-Managerial Accounting
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Module 01: Discussion
Management Accounting
Financial accounting and managerial accounting are
subdivisions of accounting and play an essential role
within an organization.
Discuss the major differences between managerial and
financial accounting then apply your understanding to the
following 4 scenarios. Discuss if these are managerial
accounting or financial accounting and why.
1. A company is looking to increase its gross profit by
reducing costs for the upcoming periods. To further
investigate, the production manager pulls reports that
detail costs in the previous year. After discussions with the
purchasing manager, he creates a budget based on
assumptions and estimates.
2. An investor researching profitable companies pulls
quarterly reports of various corporations. The reports are
prepared according to GAAP with objective information
and focus on the business as a whole. Are the reports
prepared using managerial or financial accounting?
3. To fund its expansion in the upcoming year, Deacon
Corporation negotiates a $4,000,000 loan with a local
bank. The bank requires financial statements to ensure
the company’s ability to pay interest and repay the
principal. Would Deacon Corporation use managerial or
financial accounting to create the reports for the bank?
4. During an audit, an agent looks at the company’s financial
statements to verify that the same accounting practices
were used in the tax return for a certain expense. Would
the financial statements used by the agent be prepared
using managerial or financial accounting?
Directions:
•
Discuss the concepts, principles, and theories from your
textbook. Cite your textbooks and cite any other sources if
appropriate.
•
Your initial post should address all components of the
question with a 500 word limit.