The area of accounting aimed at serving the decision making needs of internal users is:
A) Financial accounting.
B) Managerial accounting.
C) External auditing.
D) SEC reporting.
E) Bookkeeping.

Question

Quizplus · Accepted Answer

Managerial accounting is focused on providing financial information and analysis to internal users to support decision-making, planning and control within an organization. Financial accounting is aimed at serving the decision-making needs of external users, while external auditing is an independent review of an organization's financial statements. SEC reporting is a regulatory requirement for publicly traded companies, and bookkeeping is more of a clerical function focused on recording and organizing financial transactions.

The Area of Accounting Aimed at Serving the Decision Making