Asked by ashok Gadiparthi on May 06, 2024
Verified
Managerial Accounting reports are prepared for external users while Financial
Accounting reports are prepared for internal users.
Managerial Accounting
The process of identifying, measuring, analyzing, interpreting, and communicating financial information for the pursuit of an organization's goals.
Financial Accounting
The branch of accounting that focuses on the preparation of financial statements for external users.
- Differentiate between managerial and financial accounting.
- Distinguish between the objectives and necessities of financial accounting and managerial accounting.
Verified Answer
FH
fatema hassnMay 07, 2024
Final Answer :
False
Explanation :
Managerial Accounting reports are prepared for internal users while Financial Accounting reports are prepared for external users.
Learning Objectives
- Differentiate between managerial and financial accounting.
- Distinguish between the objectives and necessities of financial accounting and managerial accounting.