Questions:
1. Discuss the differences between financial and managerial accounting. What types of financial statements are used by business organizations?
2. Compare and contrast the development and use of GAAP and IFRS. Do you think the implementation of international accounting standards is feasible? Please explain.
3. Look at the origins and purposes of accounting and discuss how our society's development has been affected by its use. Could our society function as it currently does without accounting? Please explain.
Instructions: Your initial response should be no less than 250 words. Reply to at least two of your classmates. Replies to classmates should be a minimum of 100 words and include direct questions. In-text citations and references may be in APA format but is NOT required. Refer to the Forum Grading Rubric below for additional guidelines.