Comparing Visualization in Managerial and Financial Accounting This chapter highlighted some of the key differences between financial accounting and managerial accounting. While both types of accounting use similar types of visualizations, the information presented in them will often be quite different. Financial accounting visualizations tend to focus on displaying historical financial information relevant to external stakeholders. In contrast, managerial visualizations focus more on using internal information to make future oriented decisions. The following dashboard contains visualizations of either financial or managerial accounting information. All dashboards relate to Alchemy Entertainment, a company that specializes in hosting festivals for three segments, (1) music, (2) art, and (3) film. The visualization includes a drop-down in the upper right corner called "Select Visualization". You can use this drop-down to toggle between four different visualizations pertaining to Alchemy Entertainment. Use the information within the various visualizations to assist you in answering the following questions. Historical Revenues by Year and Quarter 4+4+ableau 1. Visualization 1 shows historical revenues over the past 3 years for each quarter. Is this information more likely to be related to financial or managerial accounting? Financial Managerial Neither 2. Visualization 2 shows a forecast of revenues and expenditures for the coming fiscal year. Forecasted revenues and expenditures have been separated by segment. The black horizontal line represents forecasted expenditures while the vertical colored bars represent forecasted revenues. Is this information more likely to be related to financial or managerial accounting? Financial Managerial Neither 3. Visualization 2 shows a forecast of revenues and expenditures for the coming fiscal year (2021). Forecasted revenues and expenditures have been separated based on segment. The black horizontal line represents forecasted expenditures while the vertical colored bars represent forecasted revenues. Based on the data displayed in the visualization, which of the three segments appears to have the highest profit margin in the month of July? 3. Visualization 2 shows a forecast of revenues and expenditures for the coming fiscal year (2021). Forecasted revenues and expenditures have been separated based on segment. The black horizontal line represents forecasted expenditures while the vertical colored bars represent forecasted revenues. Based on the data displayed in the visualization, which of the three segments appears to have the highest profit margin in the month of July? Art Film Music 4. Visualization 3 shows a pie chart consisting of all the operating expenses incurred during the fiscal year. Pie charts make it easy to determine size proportions giving managers a quick view of the types of things that are costing them the most money. Based on the pie chart, which category of expenses constitutes the largest expense for Alchemy Entertainment? Legal expenses SG\&A Salaries and Wages Taxes 5. Visualization 4 shows an organization chart of employees at Alchemy Entertainment. The lines connecting each employee are shaded various colors to indicate the segment where each employee works. The colors of the dots represent each employee's title, allowing users of the visualization to easily identify reporting lines. Which segment does Staff member Tony Wong work in? Also, would this visualization be more likely related to financial or managerial accounting? 4. Visualization 3 shows a pie chart consisting of all the operating expenses incurred during the fiscal year. Pie charts make it easy to determine size proportions giving managers a quick view of the types of things that are costing them the most money. Based on the pie chart, which category of expenses constitutes the largest expense for Alchemy Entertainment? Legal expenses SG\&A Salaries and Wages Taxes 5. Visualization 4 shows an organization chart of employees at Alchemy Entertainment. The lines connecting each employee are shaded various colors to indicate the segment where each employee works. The colors of the dots represent each employee's title, allowing users of the visualization to easily identify reporting lines. Which segment does Staff member Tony Wong work in? Also, would this visualization be more likely related to financial or managerial accounting? Art / Managerial Music / Managerial Art / Financial Music/Financial Comparing Visualization in Managerial and Financial Accounting This chapter highlighted some of the key differences between financial accounting and managerial accounting. While both types of accounting use similar types of visualizations, the information presented in them will often be quite different. Financial accounting visualizations tend to focus on displaying historical financial information relevant to external stakeholders. In contrast, managerial visualizations focus more on using internal information to make future oriented decisions. The following dashboard contains visualizations of either financial or managerial accounting information. All dashboards relate to Alchemy Entertainment, a company that specializes in hosting festivals for three segments, (1) music, (2) art, and (3) film. The visualization includes a drop-down in the upper right corner called "Select Visualization". You can use this drop-down to toggle between four different visualizations pertaining to Alchemy Entertainment. Use the information within the various visualizations to assist you in answering the following questions. Historical Revenues by Year and Quarter 4+4+ableau 1. Visualization 1 shows historical revenues over the past 3 years for each quarter. Is this information more likely to be related to financial or managerial accounting? Financial Managerial Neither 2. Visualization 2 shows a forecast of revenues and expenditures for the coming fiscal year. Forecasted revenues and expenditures have been separated by segment. The black horizontal line represents forecasted expenditures while the vertical colored bars represent forecasted revenues. Is this information more likely to be related to financial or managerial accounting? Financial Managerial Neither 3. Visualization 2 shows a forecast of revenues and expenditures for the coming fiscal year (2021). Forecasted revenues and expenditures have been separated based on segment. The black horizontal line represents forecasted expenditures while the vertical colored bars represent forecasted revenues. Based on the data displayed in the visualization, which of the three segments appears to have the highest profit margin in the month of July? 3. Visualization 2 shows a forecast of revenues and expenditures for the coming fiscal year (2021). Forecasted revenues and expenditures have been separated based on segment. The black horizontal line represents forecasted expenditures while the vertical colored bars represent forecasted revenues. Based on the data displayed in the visualization, which of the three segments appears to have the highest profit margin in the month of July? Art Film Music 4. Visualization 3 shows a pie chart consisting of all the operating expenses incurred during the fiscal year. Pie charts make it easy to determine size proportions giving managers a quick view of the types of things that are costing them the most money. Based on the pie chart, which category of expenses constitutes the largest expense for Alchemy Entertainment? Legal expenses SG\&A Salaries and Wages Taxes 5. Visualization 4 shows an organization chart of employees at Alchemy Entertainment. The lines connecting each employee are shaded various colors to indicate the segment where each employee works. The colors of the dots represent each employee's title, allowing users of the visualization to easily identify reporting lines. Which segment does Staff member Tony Wong work in? Also, would this visualization be more likely related to financial or managerial accounting? 4. Visualization 3 shows a pie chart consisting of all the operating expenses incurred during the fiscal year. Pie charts make it easy to determine size proportions giving managers a quick view of the types of things that are costing them the most money. Based on the pie chart, which category of expenses constitutes the largest expense for Alchemy Entertainment? Legal expenses SG\&A Salaries and Wages Taxes 5. Visualization 4 shows an organization chart of employees at Alchemy Entertainment. The lines connecting each employee are shaded various colors to indicate the segment where each employee works. The colors of the dots represent each employee's title, allowing users of the visualization to easily identify reporting lines. Which segment does Staff member Tony Wong work in? Also, would this visualization be more likely related to financial or managerial accounting? Art / Managerial Music / Managerial Art / Financial Music/Financial