Financial accounting provides information for managers and other internal users. Select one: True False
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Financial accounting provides information for managers and other internal users.
- True
- False
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- 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 GAAPThe main user group of management accounting is the O A. managers O B. investors O C.creditors O D. lendersFinancial accounting provides information for managers and other internal users.
- Management accounting can be customized to the specific firm for which the information is being prepared. Why is this an important characteristic of management accounting? Why can’t financial accounting also be customized?Identify the following users of accounting information as either an (a) external or (b) internal user. Marketing managerWhat is the connection between the Accounting & Finance Process and the Accounting & Finance Modules in ERP Systems? and What is the new role of this for Management Accounting? How would ERP Systems help in Management Accounting?
- Describe the nature and scope of management accounting? Nature of management accounting:. 1.Provids financial data: Management accounting provides financial data to the management and information so collected is used by the management for taking policy decisions. 2.Decision making: The management accounting supplies necessary information to the management, basing on which decision are taken. Scope of management of accounting:. 1.Financi accounting. 2.Cost accounting. 3.Revaluatiom accounting. 4.Budgetary control.Managerial accounting produces information: Select one: a. that follows the rules of GAAP b. to meet the needs of investors c. to meet the needs of external users d. that is often focused on the futureExplain how a management accountant can help their supply chaincolleagues.