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Question # 10 (10 minutes) a).Explain in your own words how managerial accounting...

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Question # 10 (10 minutes) a).Explain in your own words how managerial accounting differs from financial accounting ? (2 marks) b)Explain whether you believe a top down or bottom up budget process is most desirable for a business and state why ? (1 mark) c)Explain what is meant by a mixed cost. (1 mark) d)State two reasons why a business should prepare financial budgets ? (3 marks) e)Why do businesses use contribution margin analysis for internal decision making rather than IFRS based financial information ? (1 mark) f)Explain what is meant by a period cost . (1 mark) g)When is differential analysis used in managerial accounting ? (1 mark)

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