Business, 13.10.2020 03:01 ashleypere99

Managerial accounting differs from financial accounting in several areas. Specify whether each of the following characteristics relates to managerial accounting or financial accounting. a. Reports are usually prepared quarterly and annually. ▼ b. Information is verified by external auditors. ▼ Financial accounting Managerial accounting c. Focus is on the past. ▼ Financial accounting Managerial accounting d. Main characteristic of information is that it must be relevant. ▼ Financial accounting Managerial accounting e. Reports tend to be prepared for the parts of the organization rather than the whole organization. ▼ Financial accounting Managerial accounting f. Primary users are internal (i. e., company managers). ▼ Financial accounting Managerial accounting g. It is governed by Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). ▼ Financial accounting Managerial accounting h. The primary characteristics of information are that it must be reliable and objective. ▼ Financial accounting Managerial accounting i. Reports are prepared as needed. ▼ Financial accounting Managerial accounting j. It is not governed by legal requirements. ▼ Financial accounting Managerial accounting k. Primary users are external (i. e., creditors, investors). ▼ Financial accounting Managerial accounting l. Focus is on the future. ▼ Financial accounting Managerial accounting m. Reporting is based mainly on the company as a whole.

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Managerial accounting differs from financial accounting in several areas. Specify whether each of th...

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