SUBJECT : Accounting and Finance Question 1 Financial accounting and management accounting have different uses to the...

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Accounting

SUBJECT : Accounting and Finance
Question 1 Financial accounting and management accounting havedifferent uses to the stakeholders. Differentiate the broad typesof accounting information between both disciplines.
Question 2 The global COVID-19 pandemic have resulted in manycompanies contemplating to shut down or close permanently theiroperations. Discuss the decisions that must be considered bymanagement before taking such a move.

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Question 1 Firstly we must know the difference between both the accountings Basis Financial Accounting Management Accounting Details In this we can get all the detailed information about an entire business But in management accounting works and tells about a detailed level of a company and not the entire business like profits generated by a product customers according to different regions etc Efficiency and Effectiveness Financial accounting can show a stakeholder how efficient a company is as it tells about the profitability of a company Management accounting on the other hand tells about what problems a business is facing and what are the solutions to them Information provided Information in financial accounting must be accurate that means See Answer

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