The following are basic characteristics of management accounting, except A. It is future-oriented. B. It is used by both the external and internal stakeholders C. It may use non-financial data or information D. It complies with generally accounting principles.

Q: Outline the technical benefits of a conceptual framework. What problems could occur if accounting…

A: Accounting Conceptual framework is a body of interrelated ideas and fundamentals that provide a…

Q: What are at least two reasons why management should involve the accounting  personnel in the process…

A: Accountancy: Accounting can be defined as the language of business that measures, evaluates,…

Q: A key difference between management accounting and financial accounting reports is that management…

A: Accounting is related to recording business transactions. The account has a different aspects like…

Q: nciples- Based and Rules-Based Accounting Standards, which would you use and do you think that this…

A: Accounting Standard - An accounting standard is a collection of procedures and guidelines used to…

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: The accounting system should provide information for:

A: The accounting system should provide information for: D. All of the above. The accounting system…

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: Analyze current major accounting research tools. Discuss the deductive, inductive, and pragmatic…

A: Accounting research looks at how people, businesses, and governments use accounting, as well as the…

Q: quality of accounting standards?

A: Accounting standards determine thee accounting information must have relevance, must be reliable and…

Q: Describe the goals of accounting standards.

A: Accounting standards are authoritative standards for financial reporting and are the primary source…

Q: “Management accounting should not fit the straitjacket of financial accounting.” Explain and givean…

A: Financial accounting is concerned primarily with the financial data related to an organization…

Q: he following is a list of qualitative characteristics of useful accounting information identified in…

A: SOLUTION-  AN INDEPENDENT BODY OR ORGANIZATION WHICH IS INVOLVED IN PREPARATION OF FINANCIAL…

Q: Describe the decision making process in management accounting.

A: The decision-making process includes a series of steps which are followed in making a decision for…

Q: Which of the following is not true concerning a conceptual framework in accounting? O It should be a…

A: Conceptual framework in accounting means rules, regulations and guidelines that are used for…

Q: 38. This approach is useful  for compliance reviews  where operators should do what the contract,…

A: Answer: This approach is useful  for compliance reviews  where operators should do what the…

Q: The field of accounting that focuses on providing information for external decision makers is A.…

A: The objective of the question is to identify the branch of accounting that is primarily concerned…

Q: Identify whether each description most likely applies to managerial (M) or financial (F) accounting.…

A:

Q: Which of the following is the first step within hierarchy of guidance to which management refers,…

A: SOLUTION- ACCOUNTING POLICIES ARE THE SPECIFIC PRINCIPLES AND PROCEDURES IMPLEMENTED BY A COMPANY'S…

Q: An internal accounting system should: a. provide information to enable costs to be minimized b.…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…