Which of the following statements is not true?
A)A company is unlikely to be successful in the long run without adequate managerial accounting information to support decision making.
B)Managerial accounting is less detailed than external reporting.
C)Managerial accounting reports are covered by rules comparable to those governing financial accounting.
D)Internal users have access to all the underlying data in managerial accounting reports.

Question

Quizplus · Accepted Answer

Managerial accounting reports are not governed by the same strict rules and standards as financial accounting, such as GAAP or IFRS. They are more flexible and tailored to meet the internal needs of the business.

Which of the Following Statements Is Not True