Homework Answers
The correct answer for the question is
Option A - Internally focused, Oriented towards the future, and functioning without mandatory rules. Managerial accounting is the study focussed on internal users and practices within the organization. Managerial accounting focusses on all the operational aspects of the business and how the business can work on to improve internally, thereby using the accounting information to take future oriented decisions . The functioning of Managerial accounting does not follow any mandatory rules and is more flexible as it does not funtion without mandatory rules. The managerial accountants are reportable only to the internal users and not the external users.
Option B and Option C are incorrect as the goal of the managerial accounting is internally focussed and not externally focussed.
Option D is incorrect as Managerial accouting is not historically oriented but rather future oriented.
Please let me know if you have any questions via comments and all the best :) !
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