Each separate response must have approximately 200 words. Assignments vary widely; however, essays should be written in APA style, with in-text citations and a separate reference listing as needed.Basically, you need to cite and reference a relevant source for assignments that have an essay component. This means you are required to conduct research on your own outside the information provided in the text (i.e. an external reference).

Please answer each question with a minimum of 200 words:

1. Answer (a) and (b) in problem 1-26B

2. Distinguish between financial accounting and managerial accounting as to user groups and time horizons.

3. Why should the chief accountant of an organization have a clear understanding of both financial and managerial account?