Complete Problem 1 and 2 (not questions or multiple choice or TF) and Research 2 about Starbucks and put your answers in this dropbox prior to Saturday. When you have posted your answers in the dropbox, you will be able to access a video explanation below from which you will be able to make corrections and repost by Monday for credit. Make sure to explain your corrections in a color different from your original answers.

1. The communication of financial information primarily for use of decision makers like investors outside the business entity.

2. Managerial accounting focuses on providing the information needed for internal managers to make decisions guiding the business. Because it is primarily for outside investors, financial accounting must follow rules so as to be consistent for all companies and focuses on the past as a means to predict the future. Managerial accounting does not have rules and emphasizes current and future information that involve estimates.