Costco Accounting Homework

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Description

The company I have chosen for my SEC 10-K project is Costco.
Please see link below.
https://www.sec.gov/Archives/edgar/data/909832/000...

You are continuing your assessment of your SEC corporation for your employer. This week marks the move from understanding financial statements to using accounting information to evaluate business decisions:

  • Write a two-paragraph analysis of the differences between Financial Accounting (weeks 1-5) and Managerial Accounting (week 6). What are the benefits of understanding both and how they interact?
  • Explain the difference between job costing and process costing.
  • Consider your SEC corporation. Would they use Job Costing, Processing Costing or a combination? Why?
  • How does managerial accounting impact quality control? How do customers influence quality control?

Complete the report below and submit in the Assignment Folder.

Write a brief report on your activities this week as a Word document and upload it to this week's Homework assignment folder.

If you're not sure what to write, here are some things to consider:

  • What resources did you find most/least helpful this week?
  • What topic(s) gave you trouble this week (if any)?
  • What topic(s) do you feel you were able to grasp?
  • How might you change your time management or study habits?
  • Comment on the value of the activities you completed this week

These are just examples of things you could write about, but feel free to write anything you want. There are no right or wrong answers to this weekly homework report assignment.

Remember all submissions and postings in our class must be in your own words. Deliverables are to be single spaced with double spacing between paragraphs. We are writing business reports.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

See attached:)

Running head: ACCOUNTING HOMEWORK

Accounting Homework
Name
Institution
Date

1

ACCOUNTING HOMEWORK

2

Financial accounting and managerial accounting
Financial accounting can be explained as a specialized domain of accounting which keeps
track of a corporation’s financial business transactions. Using consistent guidelines, the business
transactions are documented, summarized, as well as stated in financial statements such as the
balance sheet or an income statement. On the other hand, managerial accounting is defined as a
process of identifying, accessing, examining, understanding, as well as communicating
information to the managers for the chase of the organization’s objectives (Williams, et al.,
2005).
The benefit of understanding the two types of accounting explained above is that in
managerial accounting the information is aimed at assisting the managers within the given
organization to make a decision, while the information in the financial accounting aims at giving
information to the parties outside the business organization. The two types of accounting interact
by working together in order to create information required for planning, controlling, as well as
decision making within the business organization.
Jo...


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