Unlike financial accounting, management accounting:
A) Is governed by a strict set of rules and procedures referred to as generally accepted accounting principles.
B) Provides information to support decision making before any actions are taken.
C) Is focused on outcomes of the entity's actions taken in the past.
D) Is confined to measurements expressed in monetary units.

Question

Quizplus · Accepted Answer

Management accounting provides information to support decision making before any actions are taken, unlike financial accounting which is focused on reporting past outcomes.

Unlike Financial Accounting, Management Accounting