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– Nelson Mandela

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Module 5 Information and Financial Management - Business Situations

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Q Question 1 Scenario 5.9: A church prepares its quarterly budget comparing expected to actual revenues and expenses. Church management uses this report to help them decide if they will have any problems meeting their financial obligations in the next quarter. Which type of accounting function is this? Question 2 Scenario 5.10: The owner of a shoe store wants to open a new branch. She has her accountant prepare an annual report so that she can ask a bank for a loan to finance this expansion. Which type of accounting function is this?

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1.managerial accounting 2.financial accounting