Following are aspects of accounting information. Classify each as pertaining more to financial accounting or to managerial accounting. 1. Primary users are external 5. Controlled by GAAP 2. Includes more nonmonetary information 6. Used in managers’ planning decisions 3. Focuses more on the future 7. Focuses on the whole organization 4. Uses many estimates and projections 8. Not constrained by GAAP

Q: Managerial accounting a. is primarily for external users. b. has no mandatory rules. c, provides…

A: Managerial accounting is focused on providing information to managers.   This helps the managers in…

Q: 3. Compare and contrast the functions of management accounting and financial accountinginthe context…

A: The goal of management accounting, usually referred to as managerial accounting, is to help internal…

Q: Financial accounting follows Generally Accepted Acccounting Principles (GAAP), while managerial…

A: Financial accounting and management accounting are two important branches of accounting. Financial…

Q: Objective Type Question: Which of the following is NOT one of the stages outlining management…

A: The answer is:D) Human Resource ManagementExplanation: While management accountants may interact…

Q: The primary goal of management accounting is to: Select one: O A. provide information to current and…

A: Management accounting is one of the branches of accounting under which the management accountants…

Q: True or False: The primary purpose of financial accounting is to provide information for internal…

A: Financial accounting is a branch of accounting that focuses on the preparation, analysis, and…

Q: Choose the best answer to fill in the blank: “A key difference between management accounting and…

A: Financial accounting provides financial statements which show the profitability, financial position…

Q: Managerial accounting: A.Is based on GAAP B.Includes only financial measure C.Is designed for…

A: Managerial accounting is primarily concerned with assessing the internal requirements of firms and…

Q: most general and most important objective of financial reporting

A: Option B is wrong because ensuring that the management objectives are met is not an objective of…

Q: Which of the following are characteristics of management accounting information?  a) Unregulated…

A: Answer -    The following are characteristics of management accounting information-  verifiability,…

Q: Where in the financial statements would a user find out which accounting policies management has…

A: Accounting policies are the set of standards and methods which management uses to prepare the…

Q: Management accounting and financial accounting differ in that management accounting information is…

A: Management accounting and financial accounting are very much similar and differ mainly in two…

Q: Indicate whether each statement describes financial accounting or managerial accounting.A. The…

A: Financial Accounting means the process of recording the transaction , posting , summarizing ,…

Q: Which of the following are characteristics of management accounting information?

A: Statement 1: Non-financial as well as financialThis means that control accounting information…

Q: Managerial Accounting utilizes both financial and non-financial data of a company. Select one: O…

A: Managerial accounting is the process of identifying, assessing, analyzing, interpreting, and…

Q: The techniques and practices of management accounting are usually constrained by: Select one: O A.…

A: Managerial accounting, also called management accounting, is a method of accounting that creates…

Q: “Communication financial results and positions to external parties”. Is it not a primary function of…

A: Management Accounting:

Q: ts are prepared: Oa. to provide creditors with information us Ob. to meet the needs of decision…

A: Managerial accounting is a discipline of accounting that offers financial and non-financial…

Q: Accounting policies, methods, and estimates used in preparing fi nancial statements aremost likely…

A: Accounting policies are the course of actions that an entity uses to make its financial statements.…

Q: Which of the following statements is false? Select one: O A. Management accounting statements need…

A: Ans. In any organization, management accounting and financial accounting both are very crucial…