Asked by Aaron Portillo on Jul 02, 2024
Which of the following statements is correct?
A) A financial controller is only responsible for financial accounting.
B) The primary role of the finance function of an organisation is to liaise with banks and financial intuitions to obtain finance to fund operations.
C) In some organisations, management accountants are located in factories.
D) Management accountants are responsible for external reporting as well as providing information to internal managers.
Financial Controller
A senior executive responsible for managing a company's financial accounting, reporting, and compliance activities.
Finance Function
Refers to the tasks related to managing a company's financial resources, including budgeting, forecasting, investing, and securing funds.
Management Accountants
Professionals who focus on providing financial data and analysis to managers within organizations to facilitate decision-making.
- Differentiate between financial accounting and management accounting.
Learning Objectives
- Differentiate between financial accounting and management accounting.