Lackawanna ACC220 2021 November Module 1 Discussion (dq1+dq2) Latest

ACC220 Managerial Accounting

Module 1 Discussion

DQ1 Service Costs

Please read Ch. and review the videos and website material. Financial accounting involves preparing financial statements from company information. Managerial accounting involves decision making within a business.

Though service companies do not produce a tangible product, they usually still have labor, materials, and overhead costs. These costs are not associated with manufacturing product, but with serving customers. Give an example of a service business and determine what would be labor costs, material costs ( if any) and overhead costs. Why did you categorized the costs in each category?

DQ2 Environmental Managerial Accounting

For this questions. please conduct some research beyond the textbook.

Throughout the last decade, environmental issues have become an increasingly important part of the business environment for most companies. Companies and managers must now consider the environmental impact of their business decisions in the same way that they would consider other operational issues

. Comment on one environmental issue you have researched and indicate how the decision was made by management.