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Question: 1. What are the two typologies of Accounting? As you focus your responses, focus on areas of comparison of these typologies:

Primary users

Report format

Purpose of reports

nature of information

Units of measure

Frequency of reports, etc.

One of the key questions to consider is: What does Managerial Accounting really mean?

2. Question for continued discussions: What is the "value-chain"?

3. Question: What is the difference between relevant information and irrelevant information? Are not all information useful?

4. Question for ongoing discussions: Why are timeliness and relevance important to management?

5. What are the three main costs in managerial accounting? How do these costs behave?

6. What is CVP analysis? Why is this important to organizations?

7. What critical thinking concepts are necessary for CVP to work?

Accounting Basics, Accounting

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