One major difference between financial and management accounting is that
A)financial accounting reports are prepared primarily for users external to the company.
B)management accounting is not under the jurisdiction of the Securities and Exchange Commission.
C)government regulations do not apply to management accounting.
D)all of the above are true.

Question

Quizplus · Accepted Answer

All the statements provided are true differences between financial and management accounting. Financial accounting is aimed at providing information to external users, such as investors and regulators, and is regulated by entities like the Securities and Exchange Commission. Management accounting, on the other hand, focuses on internal users like managers, and is not governed by such regulations, allowing for more flexibility in practices and reporting.

One Major Difference Between Financial and Management Accounting Is That