BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What field of accounting provides information for external decision makers?
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Financial accounting
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Managerial accounting
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Nonmonetary accounting
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Cost accounting
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Explanation:
Detailed explanation-1: -Managerial accounting information is aimed at helping managers within the organization make well-informed business decisions, while financial accounting is aimed at providing financial information to parties outside the organization.
Detailed explanation-2: -A financial accounting system is aimed at external decision-makers such as investors, regulators, and creditors, while a managerial accounting system is aimed at internal decision-makers such as managers.
Detailed explanation-3: -1. Managerial accounting is a rearrangement of information on financial statements and depends on it for making decisions.
There is 1 question to complete.