. Managerial accounting A. is primarily directed at external users of accounting information. B. is required...
. Managerial accounting
A. is primarily directed
at external users of accounting information.
B. is required by taxing
authorities such as the IRS.
C. must follow
GAAP.
D. is optional.
Explain correct answer please
Homework Answers
Ans : Managerial Accounting :
* It is the practice of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the pursuit of an organization's goals.
* Correct answer is option D. Managerial accounting is optional.
Management accounting is not mandatory. However, a company that does not use it will suffer great consequences. Financial statements provide general information, addressing the common needs of its users. The financial reports in managerial accounting address a specific issue or concern.
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