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What are the characteristics of managerial accounting information for a company?

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Beverley Smith
Beverley SmithLv2
28 Sep 2019
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Related questions

Which of the following statements is true of managerialโ€‹ accounting?

a. The external stakeholders of a company are the primary users of managerial accounting.

b. Managerial accounting information is used to help managers plan and control their operations.

c. An external audit by an independent CPA is required for managerial accounting information.

d. Managerial accounting information must comply with Generally Accepted Accounting Principles.

You will explore the profession of accounting, from theperspective of managerial accounting work and careers. Below issome information that can get you started, though you will need todo some additional research on your own. You can use the library,the Internet or interview a managerial accountant to accessadditional information. Create a written document in the properform that includes the following: What is managerial accounting?What is the difference between managerial and financial accounting?Who are the users of financial accounting and managerial accountinginformation? How is managerial accounting information used to makedecisions? Identify some different jobs someone with a managerialaccounting education/experience can engage in. What is the IMAStatement of Ethical Practice and how does it impact the behaviorof an accounting professional? Describe the CMA certification forManagerial Accounting Professionals.

Managerial accounting is different from financial accounting in that:

a. Managerial accounting is used extensively by investors, whereas financial accounting is used only by creditors.

b. Managerial accounting is mainly used to set stock prices.

c. Managerial accounting never includes nonmonetary information.

d. Managerial accounting includes many projections and estimates whereas financial accounting has a minimum of predictions.

e. Managerial accounting is more focused on the organization as a whole and financial accounting is more focused on the subdivisions of the organization.

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