Accounting and Financial Management questions and answers well illustrated.

Accounting and Financial Manag ement questions and answers well illustrated. Stock Market & its efficiencies - correct answers.When the space shuttle exploded and they found the company responsible for it, the capital market found out within minutes As a result, this caused an immediate drop of the market share, showing that stock markets are extremely efficient Accountants vs Finance Professionals - correct answers.Accountants - measure, analyze and manage performance - they look back in time to understand how we progress in our business plan (make decisions based on info of the past) - they give feedback to management Finance Professionals - they look towards the future - they forecast the future to understand how businesses are going to perform and they optimize choices accoridngly - make decisions as whether they should buy or sell a share Audit - correct examination og a company's financial statements and the accounting practices that produced them make sure statements are in conformity with GAAPs (generally accepted account principles) Management accounting - correct answers.- Users INSIDE the organization - produce internal management reports that provide financial information on which decisions can be based for the future Financial accounting - correct answers.- users OUTSIDE the organization (NGO's, government, shareholders) - information that is primarily for ext