ACCT 311 Discussion 1

ACCT 311 Discussion 1

ACCT 311 Discussion 1 Liberty University

Each member of the group will select one question below. You may not select a question that has already been posted by another group member. Please be sure that you clearly identify the question number you have selected.

1. How does cost accounting differ from financial accounting and how, if at all, does the difference impact the ethics involved in serving in either role? How would you relate Biblical principles to this question?
2. Relate the IMA 4 principles (honesty, fairness, objectivity, and responsibility) to biblical principles.
3. Why do management accountants need to understand their company’s strategy?
4. Define corporate social responsibility and relate it to Biblical principles.
5. Describe the difference between a contribution margin financial statement and a traditional format income statement.