1. How do public accountants differ from management accountants? Who are the key users of the accounting information? What type of information does each stakeholder group need?

2. You have a company's balance sheet, its income statement, and its statement of cash flows. Which would you refer to if you wanted to know if a company made a profit last year? If you wanted to find out whether the firm had any intangible assets? If you wanted to know why its cash balance had changed over the past year? If you wanted to know how much debt the firm had used to finance its assets? If you wanted to know what the firms operating expenses were for the past year?

3. Describe the key differences between financial accounting and managerial accounting