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Question:43 Briefly distinguish between financial and managerial accounting as they relate to (i) the primary users, (ii) the type and frequency of reports, (iii) the purpose of reports, and (iv) the content of reports. Match the correct/ applicable IMA guideline with the situation by placing the sequence number of the guideline (from 1 to 4) on the line. before each situation (from A through to H). You may use each number more than once. 1. Competence; 2. Confidentiality; 3. Integrity; 4. Objectivity. A) Attend classes to maintain professional competence. B) Do not disclose confidential information. C) _ Communicate information fairly. actions. E) Refuse any gift or favor that would influence your Prepare reports in accordance with relevant technical standards. F) _ Communicate unfavorable as well as favorable information. G) Delaying recording building repair and renovation expense to the next financial year. H) A member of management team discussing internal company policies/matters with a rival company's managers for advice. Which of the following statements does not describe a characteristic of management accounting? A) Management accounting places a great deal of emphasis on the future. B) Management accounting must conform to GAAP. C) Management accounting is more concerned with individual segments of the organization rather than with the organization as a whole. D) Approximate amounts rather than accurate amounts are often used in management accounting. E) More than one of the above statements does not describe a characteristic of management accounting.

Question:43 Briefly distinguish between financial and managerial accounting as they relate to (i) the primary users, (ii) the type and frequency of reports, (iii) the purpose of reports, and (iv) the content of reports. Match the correct/ applicable IMA guideline with the situation by placing the sequence number of the guideline (from 1 to 4) on the line. before each situation (from A through to H). You may use each number more than once. 1. Competence; 2. Confidentiality; 3. Integrity; 4. Objectivity. A) Attend classes to maintain professional competence. B) Do not disclose confidential information. C) _ Communicate information fairly. actions. E) Refuse any gift or favor that would influence your Prepare reports in accordance with relevant technical standards. F) _ Communicate unfavorable as well as favorable information. G) Delaying recording building repair and renovation expense to the next financial year. H) A member of management team discussing internal company policies/matters with a rival company's managers for advice. Which of the following statements does not describe a characteristic of management accounting? A) Management accounting places a great deal of emphasis on the future. B) Management accounting must conform to GAAP. C) Management accounting is more concerned with individual segments of the organization rather than with the organization as a whole. D) Approximate amounts rather than accurate amounts are often used in management accounting. E) More than one of the above statements does not describe a characteristic of management accounting.

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter2: Financial Statements And The Annual Report
Section: Chapter Questions
Problem 2.11E
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Question:43 Briefly distinguish between financial and managerial accounting as they relate to (i) the primary users, (ii) the type and frequency of reports, (iii) the purpose of reports, and (iv) the content of reports. Match the correct/ applicable IMA guideline with the situation by placing the sequence number of the guideline (from 1 to 4) on the line. before each situation (from A through to H). You may use each number more than once. 1. Competence; 2. Confidentiality; 3. Integrity; 4. Objectivity. A) Attend classes to maintain professional competence. B) Do not disclose confidential information. C) _ Communicate information fairly. actions. E) Refuse any gift or favor that would influence your Prepare reports in accordance with relevant technical standards. F) _ Communicate unfavorable as well as favorable information. G) Delaying recording building repair and renovation expense to the next financial year. H) A member of management team discussing internal company policies/matters with a rival company's managers for advice. Which of the following statements does not describe a characteristic of management accounting? A) Management accounting places a great deal of emphasis on the future. B) Management accounting must conform to GAAP. C) Management accounting is more concerned with individual segments of the organization rather than with the organization as a whole. D) Approximate amounts rather than accurate amounts are often used in management accounting. E) More than one of the above statements does not describe a characteristic of management accounting.
Transcribed Image Text:Question:43 Briefly distinguish between financial and managerial accounting as they relate to (i) the primary users, (ii) the type and frequency of reports, (iii) the purpose of reports, and (iv) the content of reports. Match the correct/ applicable IMA guideline with the situation by placing the sequence number of the guideline (from 1 to 4) on the line. before each situation (from A through to H). You may use each number more than once. 1. Competence; 2. Confidentiality; 3. Integrity; 4. Objectivity. A) Attend classes to maintain professional competence. B) Do not disclose confidential information. C) _ Communicate information fairly. actions. E) Refuse any gift or favor that would influence your Prepare reports in accordance with relevant technical standards. F) _ Communicate unfavorable as well as favorable information. G) Delaying recording building repair and renovation expense to the next financial year. H) A member of management team discussing internal company policies/matters with a rival company's managers for advice. Which of the following statements does not describe a characteristic of management accounting? A) Management accounting places a great deal of emphasis on the future. B) Management accounting must conform to GAAP. C) Management accounting is more concerned with individual segments of the organization rather than with the organization as a whole. D) Approximate amounts rather than accurate amounts are often used in management accounting. E) More than one of the above statements does not describe a characteristic of management accounting.
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