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1. What is the difference between Managerial Accounting and Financial Accounting and to what parties...

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Accounting

1. What is the difference between Managerial Accounting and Financial Accounting and to what parties can each be provided to for their use?

2. Under what circumstances can Job Costing be used effectively to determine the resources used to produce the item sold and the profitability associated with it.

3. Can Job costing be used in the service industry as it is in the manufacturing industry? Provide examples of both if they can be. \

4. Why does management track the production costs if we expect those costs and the selling prices of the finished good to vary?

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