Asked by Sanna Gunnarsson on May 13, 2024
Verified
Managerial accounting is primarily concerned with managers and external users.
Managerial Accounting
A type of accounting that focuses on providing information to internal managers for decision-making, planning, and controlling purposes.
External Users
Individuals or entities outside a company who use its financial information, such as investors, creditors, analysts, and regulatory agencies, for decision-making purposes.
- Comprehend the purposes and functions of managerial accounting.
- Understand the differences between managerial and financial accounting in terms of purpose, audience, and report content.
Verified Answer
AD
Aaliyah DavisMay 15, 2024
Final Answer :
False
Explanation :
Managerial accounting is primarily concerned with providing information to managers within the organization for decision-making, planning, and control purposes, not external users.
Learning Objectives
- Comprehend the purposes and functions of managerial accounting.
- Understand the differences between managerial and financial accounting in terms of purpose, audience, and report content.