What are two key ways management accounting is different from financial accounting?
A)Management accounting provides special-purpose information to people external to the firm and it is highly regulated.
B)Management accounting provides information for the day-to-day running of an organisation and it is governed by the requirements of FSA.
C)Management accounting is focused on providing information to shareholders who wish to have input into the management of the organisation and it is regulated by generally accepted accounting principles.
D)Management accounting focuses on providing information for internal users and it is largely unregulated.

Question

Quizplus · Accepted Answer

Management accounting provides information for internal users such as managers and employees, while financial accounting provides information for external stakeholders such as investors, creditors, and regulatory agencies. Additionally, management accounting is largely unregulated and can be customized to meet the specific needs of the organization.

What Are Two Key Ways Management Accounting Is Different from Financial