The purpose of financial accounting is: a. Future oriented b. Communicating company position to external users c. Helping managers to make decisions d. Providing accounting information to internal users

Q: Explain the difference between management accounting and financial accounting.

A: ANSWER : Basis of difference Management accounting Financial accounting 1. Meaning…

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: Management accounting is: a. Communication oriented b. Finance oriented c. Past oriented d. Future…

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: Financial accounting a. is concerned with the information about the firm as a whole. b. has to…

A: Financial Accounting is a form of accounting that does the work of recording, summarizing, and…

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: Which is the main characteristic of Management accounting? a. Helping to achieve organizational…

A: Management accounting: Management accounting refers to the preparation of reports or financial…

Q: How can the tools in assessing accounting quality assist financial analyst

A: The value of financial accounting is primarily defined only by its quality. The core premise of…

Q: Providing information about the performance and financial position of companies so that users can…

A: Financial reportingIt is the standard practice to provide the stakeholders an accurate depiction of…

Q: t is the connection between the Accounting & Finance Process and the Accounting & Finance Modules in…

A: Accounting:     "A formal process of measuriing the events into money  terms and recording,…

Q: Who are the primary users of a company's management accounting information? A its customers to…

A: Managerial accounting is  the process in which documents are created and reported to the management…

Q: Which of the following statements correctly distinguishes between management accounting and…

A: Management accounting is used by managers within an organization to make strategic decisions based…

Q: Describe the nature and scope of management accounting?

A: Management accounting seems to be a subset of accounting that assists management in making decisions…

Q: Define strategy in accounting?

A: Strategic management accounting refers to the managing and analyzing finances of company which help…

Q: 21. Which of the following describes the purpose of a management accounting system? a) Recording the…

A: Management accounting system is an accounting system in which management takes decisions on the…

Q: Financial accounting is the primary source of information needed for decision- making, planning, and…

A: There are several fields or branches of accounting in practice. One of them is financial accounting.…

Q: ess goals and activities and describe the role of accounting in making informed decisions

A: Accounting is a medium of communication, like any languages that we use. For example, two people can…

Q: Distinguish Financial accounting from Management Accounting

A: Accounting is the process of recording financial transactions that are material to the business. It…

Q: Management accounting information: A.helps shareholders make decisions B.is used by lenders to…

A: There are two main forms of accounting being used by the business. One is financial accounting and…

Q: Which of the following is TRUE of both financial accounting and management accounting? a. The…

A: Solution Concept Financial accounting               The accounting that is done for the purpose of…

Q: a. What are the techniques that are commonly used in Management accounting?

A: Management Accounting :— Management Accounting are also known as cost accounting of Management…

Q: management accounting and (2

A: Management accounting As per the Financial Services Institution, management accounting is the…

Q: Which of the following company kinds need financial information in order to function efficiently

A: The  Answer

Q: The main user group of management accounting is the O A. managers B. investors O C creditors O D.…

A: Management accounting includes ascertainment and allocation of cost incurred during the period. This…

Q: Classify the following as to whether they are normally related or not to accounting and finance…

A: The recording and analysis of company activities are referred to as accounting and finance.…

Q: Discuss the relationship between Management Accounting and Financial Accounting

A: Accounting comprises of processes that allow access to critical information that aids in…