Describe the contribution margin concept
Managerial Accounting
Answer two of following with factual opinions:
1. How is the purpose of managerial accounting different from the financial accounting?
2. Are more accountants involved in financial or managerial function today?
3. Comment on the employ of functional versus absorption income statement. Explain the differences in presentation and employ of each type of income statement.
4. How is the concept of cost of goods sold different than the contribution margin?
5. Describe the contribution margin concept or computation and when to use the information.
