Financial accounting works in the __(future/past) ?____, while managerial accounting works in the_(future/past) __? The controlling aspect
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Question:
Financial accounting works in the __(future/past) ?____, while managerial accounting works in the_(future/past) __?
The controlling aspect of managerial accounting may include:
a. Whether our products price should be higher due to increased costs.
b. Comparing actual production numbers to the planned numbers to determine the budget for the next period.
c. Deciding to make a component in house or outsourcing it.
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