Which statement is correct: Select one: a. Management accounting’s focus and emphasis is on past-oriented reports. b. The purpose of financial information in management accounting is to communicate organization's financial position to investors, banks, regulators, and suppliers. c. All statements are correct. d. Management accounting focuses on measuring, analyzing, and reporting financial and nonfinancial information to help managers estimate future revenue, costs, and other measures to forecast activities and formulate strategies to increase the competitive advantage of the organization. e. In management accounting, rules of measurement reporting require financial statements, e.g. prepared for the budgeting purpose, to be prepared in accordance of GaAAP.
Which statement is correct: Select one: a. Management accounting’s focus and emphasis is on past-oriented reports. b. The purpose of financial information in management accounting is to communicate organization's financial position to investors, banks, regulators, and suppliers. c. All statements are correct. d. Management accounting focuses on measuring, analyzing, and reporting financial and nonfinancial information to help managers estimate future revenue, costs, and other measures to forecast activities and formulate strategies to increase the competitive advantage of the organization. e. In management accounting, rules of measurement reporting require financial statements, e.g. prepared for the budgeting purpose, to be prepared in accordance of GaAAP.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Which statement is correct:
Select one:
a.
Management accounting ’s focus and emphasis is on past-oriented reports.
b.
The purpose of financial information in management accounting is to communicate organization's financial position to investors, banks, regulators, and suppliers.
c.
All statements are correct.
d.
Management accounting focuses on measuring, analyzing, and reporting financial and nonfinancial information to help managers estimate future revenue, costs, and other measures to
Management accounting focuses on measuring, analyzing, and reporting financial and nonfinancial information to help managers estimate future revenue, costs, and other measures to forecast activities and formulate strategies to increase the competitive advantage of the organization.
e.
In management accounting, rules of measurement reporting require financial statements, e.g. prepared for the budgeting purpose, to be prepared in accordance of GaAAP.
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