1600 words MINIMUM (NOT including cover/reference pages or questions) Requirement is at least five scholarly articles, ONE may be the

1600 words MINIMUM (NOT including cover/reference pages or questions) Requirement is at least five scholarly articles, ONE may be the course textbook BELOW.

Textbook(s)

Edmonds, T. (2020). Fundamental Managerial Accounting Concepts (9th ed.). McGraw Hill.

Unit 1 Complete

1. This week we studied the differences between managerial accounting and financial accounting. When we work in any organization, we must be aware of issues that can lead to fraudulent behavior which can impact the financial reporting process in both managerial accounting and financial accounting reports. Distinguish between financial accounting and managerial accounting as to user groups and time horizons.

Why should the chief accountant of an organization have a clear understanding of both financial and managerial accounting?

How did the internal control procedure of separation of duties fail to detect the fraudulent behavior in problem 1-28b?

Consider the elements of the fraud triangle and explain how each element is present in this problem.

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