Exercise 10-1 Identifying financial versus managerial accountingitems LO 10-1 Required Indicate whether each of the following itemsis representative of managerial or of financial accounting:Information is factual and is characterized by objectivity,reliability, consistency, and accuracy. Information is reportedcontinuously and has a current or future orientation. Informationis provided to outsiders, including investors, creditors,government agencies, analysts, and reporters. Information isregulated by the SEC, FASB, and other sources of GAAP. Informationis based on estimates that are bounded by relevance and timeliness.Information is historically based and usually reported annually.Information is local and pertains to subunits of the organization.Information includes economic and nonfinancial data as well asfinancial data. Information is global and pertains to the companyas a whole. Information is provided to insiders, includingexecutives, managers, and employees.
Exercise 10-1 Identifying financial versus managerial accountingitems LO 10-1 Required Indicate whether each of the following itemsis representative of managerial or of financial accounting:Information is factual and is characterized by objectivity,reliability, consistency, and accuracy. Information is reportedcontinuously and has a current or future orientation. Informationis provided to outsiders, including investors, creditors,government agencies, analysts, and reporters. Information isregulated by the SEC, FASB, and other sources of GAAP. Informationis based on estimates that are bounded by relevance and timeliness.Information is historically based and usually reported annually.Information is local and pertains to subunits of the organization.Information includes economic and nonfinancial data as well asfinancial data. Information is global and pertains to the companyas a whole. Information is provided to insiders, includingexecutives, managers, and employees.
