Managers use management accounting information to: A) communicate, develop, and implement strategies. B) help external users such as investors, banks, regulators, and suppliers. C) communicate a firm's financial position to investors, banks, regulators, and other outside parties. D) ensure that financial statements are consistent with the SEC rules.

Managers use management accounting information to: A) communicate, develop, and implement strategies. B) help external users such as investors, banks, regulators, and suppliers. C) communicate a firm's financial position to investors, banks, regulators, and other outside parties. D) ensure that financial statements are consistent with the SEC rules.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor

Section: Chapter Questions

Problem 12CYBK: Which one of the following components of internal control over financial reporting sets the tone for...

See similar textbooks

Similar questions

Managerial accounting produces information: to meet the needs of external users that is often focused on the future to meet the needs of investors that follows the rules of GAAP
Indicate whether each statement describes financial accounting or managerial accounting. The information is directed at external users who are making decisions pertaining to investing, extending credit, and other decisions. The principal users are the organizations managers. The key focus is on the entity as a whole. The rules and principles are very flexible. The information gathered is usually available after an independent audit has been completed.
Which of the following are affected by the quality of an organization’s internal controls? a. Reliability of financial data. b. Ability of management to make informed business decisions. c. Ability of the organization to remain ¡n business. d. All of the above. e. Only a and c.
Management accountants help the management of an organization in their planning function through ________________________________. monitoring anti-theft systems strategic planning evaluating costs analyzing profits
Which of the following does not describe a management control system? A. establishes a companys strategic goals B. implements a companys strategic goals C. monitors a companys strategic goals D. a system that only measures profitability
Briefly explain the practice of enterprise risk management and the role that can be played by managerial accountants in enterprise risk management.
Managers use management accounting information to?
The primary goal of management accounting is to: Select one: O A. provide information to current and potential investors in the company O B. provide information to creditors as well as current and prospective investors O C. provide information to creditors, taxing authorities, and current and prospective investors O D. provide information for internal management to assist them in planning, control and decision making
Who uses information from an accounting system? A. Stockholders, investors, taxing authorities, government regulators, and other interested parties use internal reporting for investment and long-range planning. Managers use external reporting for planning and controlling operations and long-range planning. B. Managers use internal reporting for planning and controlling operations, special decision-making, and long-range planning. Stockholders, investors, taxing authorities, government regulators, and other interested parties use external reporting. C. Managers, stockholders, and taxing authorities use internal reporting for planning and controlling operations. Investors, government regulators, and other interested parties use external reporting. D. Managers use internal reporting for planning and controlling operations, special decision-making, and long-range planning. Suppliers and customers use external reporting to plan for…
The accounting system should provide information for: Select one: O A. Reporting actual performance to managers O B. Strategic decisions O C. Preparation of financial statements O D. All of the above.
The person MOST likely to use management accounting information is a: Select one: O a. banker evaluating a credit application. Ob. shareholder evaluating a stock investment. Oc assembly department supervisor. Od. governmental taxing authority.
Financial accounting follows Generally Accepted Acccounting Principles (GAAP), while managerial accounting Select one: O a. develops financial statements for external users O b. often has the financial information audited O c. is concerned with collecting data of historical nature O d. develops reports primarily prepared for internal use and help management make informed operational decisions.