Discussion Post: Managerial Accounting
• Explain the difference between public accounting and managerial accounting. Provide a hypothetical example of an income statement for public reporting. Provide a hypothetical example of managerial accounting income statement in process costing format. Explain your examples in detail.
• Explain operating cost classifications in managerial accounting, namely, manufacturing vs. selling/admin, variable vs. fixed, direct vs. indirect, and variable overhead vs. fixed overhead. Include examples for all.
• Explain the predetermined variable overhead criterion and include an example.
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.
Textbook: Wild, J., & Shaw, K. (2019). (8th ed.). Financial and managerial accounting: Information for decisions. McGraw-Hill.