Question #1

List and describe five differences between financial accounting and managerial accounting. Be sure to explain how the two differ on each point you list.

Question #2

Describe the strengths and weaknesses of the three general types of budgeting processes we discussed. As part of your description, you should provide specific examples of the strengths and weaknesses.

Question #3

List and describe four potential advantages of budgeting and four potential disadvantages of budgeting. As part of your description, you should provide specific examples of the advantages and disadvantages.