Part 1: Analyze your organization or an organization that you are familiar with through a Managerial Accounting lens. Compare and contrast the difference between the core principles, functions, and...

Part 1:
Management Accounting is a branch of accounting which provides information to the managers of the company, so that the managers can take better decisions regarding how the company which function. Management Accounting helps the managers of the company to assist them in planning, controlling and evaluating the future of the company. Management Accounting is not governed by the rules established by any governing body. On the other hand, the financial accounting is governed by the rules established by the Financial Accounting Standard Board (FASB). Financial Accounting provides information to the stakeholders of the company regarding the performance of the company.
Having a proper organizational structure is very important for any entity. Organizational structure gives clear goals and responsibilities and help in delegation of authorities which helps an organization to achieve its goals. Organizational structure Is divided into the reporting relationship within the company or the channel of communication exiting within the company.
Part 2:
Generally Accepted Accounting Principle (GAAP) are a common set of accounting principles that are mandatory for all the entities to follow in preparation of their financial statements. The standards are...