Define how managerial accounting differs from financial accounting. Be sure to address the diverse users of managerial and financial accounting information and provide examples of how at least five users would utilize accounting information.
Costs can be classified into 5 categories-behavior, traceability, controllability, relevance, and function. Briefly explain each category.
Illustrate how managerial accounting information assists managers in performing the roles of planning, directing, and controlling by providing an example of each.