
Financial Accounting:
The financial accounting provides technique to make the financial reporting of the financial transactions. The financial accountant prepares the
Managerial accounting:
Managerial accounting is the branch of accounting. Managerial accounting helps the manager to take make or buy decision. This accounting basically for the large scale companies as it involves a cost element.
Tax accounting:
The accounting in the context of tax is tax accounting. It is the branch of accounting. The tax accounting professional provides services to their clients related to the calculation of tax, filing of tax returns and other.
To identify: The area of accounting that involved in the given description.

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Chapter 1 Solutions
FIN & MANAGERIAL ACCT VOL 2 W/CONNECT
- Which of the following manufacturers is most likely to use a job order cost accounting system? A soft drink producer A flour mill A textile mill A builder of offshore oil rigsarrow_forwardPlease explain the solution to this general accounting problem with accurate principles.arrow_forwardThe Keller Company reported total manufacturing costs of $237,000; manufacturing overhead totaling $52,000 and direct materials totaling $75,000. How much is direct labor cost?arrow_forward
- The Process of cost apportionment is carried out so that ______________ Cost may be controlled Cost unit gather overheads as they pass through cost centers Whole items of cost can be charged to cost centers Common costs are shared among cost centersarrow_forwardI need help finding the accurate solution to this general accounting problem with valid methods.arrow_forwardJan 1; finished goods inventory of Manuel Company was Rs.3, 00,000. During the year Manuel’s cost of goods sold was Rs. 19, 00,000, sales were Rs. 2, 000,000 with a 20% gross profit. Calculate cost assigned to the December 31; finished goods inventory.arrow_forward
- Can you explain the correct approach to solve this general accounting question?arrow_forwardPlease explain the solution to this general accounting problem with accurate principles.arrow_forwardI am looking for the correct answer to this financial accounting problem using valid accounting standards.arrow_forward
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