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Accounting Assignment Sample

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Assignment Sample Of Subject Management Accounting– ACCT1002

The subject code ACCT1002 sample is prepared to help students understand how management accounting is crucial in supporting internal decision-making within a business. The sample is meant to be treated as a reference guide for the students. 
Q1. What is the difference between management and financial accounting?
Management accounting is done internally by managers for the purpose of planning and controlling, and financial accounting is developed for external stakeholders, such as investors and regulators.
Q2. Why is budgeting important in management accounting?
Budgeting allows managers to look ahead through the lens of projections for revenues and expenses, establish performance expectations, and align resources according to strategy of the company. 
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