1. Managerial and financial accounting is very different from financial reporting, but there are some similarities. After looking at the financials for Southwest earlier, discuss how managerial accounting may have entered into your analysis and things you now might go back and change or now consider.
2. Management is often faced with the alternative of continuing to make a product or component internally, or going to an external source and purchasing the product or component. In gathering relevant information for these two alternatives, briefly identify the quantitative factors that should be considered. Are there any qualitative factors that should also be considered?
3. In your own word describe opportunity costs and how may this cost be relevant to a make or buy decision.
4. Which area of accounting have you find more helpful. Or do you see how both areas can be helpful from an MBA perspective.