BUSINESS ADMINISTRATION
ACCOUNTING FOR MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Once at the end of accounting period
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As frequently as needed
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Detailed explanation-1: -Management accounting reports are usually prepared on a weekly or monthly basis by managers or business analysts. Financial accounting reports are filed annually.
Detailed explanation-2: -Management account reports include your income statement, cash flow analysis, accounts receivable, accounts payable, overhead costs, sales forecasts, value of inventory on hand and analysis of key indicators and historical and budgeted information.
Detailed explanation-3: -Managerial accounting reports are special-purpose and issued as frequently as needed. Managers’ activities and responsibilities can be classified into three broad functions: cost accounting, budgeting, and internal control.
Detailed explanation-4: -Managerial accounting reports are issued more frequently and follow no specific period.