Managerial accounting reports and information are used by external users and financial accounting by internal users.

Question

Quizplus · Accepted Answer

Managerial accounting reports and information are primarily used by internal users, such as managers and executives, for decision-making purposes. Financial accounting reports, on the other hand, are primarily used by external stakeholders, such as investors and creditors, to evaluate a company's financial performance and position.

Managerial Accounting Reports and Information Are Used by External Users