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(TCO 1) Who are the users of managerial accounting information?How does their use of accounting information differ from the usersof financial accounting information?

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Patrina Schowalter
Patrina SchowalterLv2
28 Sep 2019
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Related questions

Select the correct statement regardingmanagerial and financial accounting.

Users of managerial accounting information desire more detailedaccounting reports than do users of financial accountinginformation.

Both managerial and financial accounting use economic andphysical data in addition to financial data.

Financial accounting is less regulated than managerialaccounting.

Timeliness is more important in financial accounting than inmanagerial accounting

You will explore the profession of accounting, from theperspective of managerial accounting work and careers. Below issome information that can get you started, though you will need todo some additional research on your own. You can use the library,the Internet or interview a managerial accountant to accessadditional information. Create a written document in the properform that includes the following: What is managerial accounting?What is the difference between managerial and financial accounting?Who are the users of financial accounting and managerial accountinginformation? How is managerial accounting information used to makedecisions? Identify some different jobs someone with a managerialaccounting education/experience can engage in. What is the IMAStatement of Ethical Practice and how does it impact the behaviorof an accounting professional? Describe the CMA certification forManagerial Accounting Professionals.

Which of the following statements is true of managerialโ€‹ accounting?

a. The external stakeholders of a company are the primary users of managerial accounting.

b. Managerial accounting information is used to help managers plan and control their operations.

c. An external audit by an independent CPA is required for managerial accounting information.

d. Managerial accounting information must comply with Generally Accepted Accounting Principles.

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