Management accounting differs from financial in that management accounting is concerned mainly with

INTRODUCTION TO COST ACCOUNTING

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	measuring and reporting financial information to external parties
B	preparing accounts in line with generally accepted Australain accounting principles
C	measuring, analysing and reporting to business owners
D	preparing statements for auditing

Explanation:

Detailed explanation-1: -Managerial accounting focuses on an organization’s internal financial processes, while financial accounting focuses on an organization’s external financial processes. Managerial accountants focus on short-term growth strategies relating to economic maintenance.

Detailed explanation-2: -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-3: -Answer and Explanation: The correct answer is c. Managerial accounting places more emphasis on the future.

Detailed explanation-4: -Managerial accounting (also known as cost accounting or management accounting) is a branch of accounting that is concerned with the identification, measurement, analysis, and interpretation of accounting information so that it can be used to help managers make informed operational decisions.

There is 1 question to complete.