Choose whether the following characteristics are most often associated with managerial accounting or financial accounting. Managerial Accounting Financial Accounting Primarily used for internal decision making Generally Accepted Accounting Principles (GAAP) must be used Prepared statements usually pertain to the company as a whole rather than individual departments or products Information provided will often be subjective, such as estimated future results Often prepared on an as-needed basis rather than at fixed intervals Use principles of the Sustainability Accounting Standards Board (SASB) to provide sustainability information to external financial statement users Consideration of sustainability practices to contribute to the company's long-term success Using eco-efficiency measures to reduce expenses
Choose whether the following characteristics are most often associated with managerial accounting or financial accounting. Managerial Accounting Financial Accounting Primarily used for internal decision making Generally Accepted Accounting Principles (GAAP) must be used Prepared statements usually pertain to the company as a whole rather than individual departments or products Information provided will often be subjective, such as estimated future results Often prepared on an as-needed basis rather than at fixed intervals Use principles of the Sustainability Accounting Standards Board (SASB) to provide sustainability information to external financial statement users Consideration of sustainability practices to contribute to the company's long-term success Using eco-efficiency measures to reduce expenses
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Choose whether the following characteristics are most often associated with managerial accounting or financial accounting.
Managerial
Accounting
Financial
Accounting
Primarily used for internal decision making
Generally Accepted Accounting Principles (GAAP) must be used
Prepared statements usually pertain to the company as a whole rather than individual departments or products
Information provided will often be subjective, such as estimated future results
Often prepared on an as-needed basis rather than at fixed intervals
Use principles of the Sustainability Accounting Standards Board (SASB) to provide sustainability, information to
external financial statement users
Consideration of sustainability practices to contribute to the company's long-term success
Using eco-efficiency measures to reduce expenses
OOOO
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