Consider the descriptors that follow. 1.Is heavily involved with the recordkeeping and reporting of assets, liabilities, and stockholders' equity. 2.Focuses on planning, decision making, directing, and control. 3.Is heavily regulated. 4.A ﬁeld that is becoming more "cross-functional" in nature. 5.Much of the ﬁeld is based on costs and beneﬁts. 6.Is involved almost exclusively with past transactions and events. 7.Much of the information provided is directed toward stockholders, ﬁnancial analysts, creditors, and other external parties. 8.Tends to focus more on subunits within an entity rather than the organization as a whole. 9.May become involved with measures of customer satisfaction, and the amount of actual cost incurred vs.budgeted targets. Required: Determine whether the descriptors are most closely associated with ﬁnancial accounting or managerial accounting.

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The Answer of Consider the descriptors that follow. 1.Is heavily involved with the recordkeeping and reporting of assets, liabilities, and stockholders' equity. 2.Focuses on planning, decision making, directing, and control. 3.Is heavily regulated. 4.A ﬁeld that is becoming more "cross-functional" in nature. 5.Much of the ﬁeld is based on costs and beneﬁts. 6.Is involved almost exclusively with past transactions and events. 7.Much of the information provided is directed toward stockholders, ﬁnancial analysts, creditors, and other external parties. 8.Tends to focus more on subunits within an entity rather than the organization as a whole. 9.May become involved with measures of customer satisfaction, and the amount of actual cost incurred vs.budgeted targets. Required: Determine whether the descriptors are most closely associated with ﬁnancial accounting or managerial accounting.

Consider the Descriptors That Follow