Managerial accounting emphasizes the future in addition to historical reports,whereas financial accounting:
A) emphasizes a future perspective.
B) emphasizes individual organizational units.
C) emphasizes timeliness.
D) emphasizes a historical perspective.

Question

Quizplus · Accepted Answer

Financial accounting emphasizes a historical perspective by reporting on past financial transactions and events in a standardized format. It is primarily concerned with providing information to external stakeholders such as investors, creditors, and regulators. Managerial accounting, on the other hand, focuses on providing information to internal stakeholders such as managers and decision-makers, and is forward-looking in nature to help with planning and decision-making for the future.

Managerial Accounting Emphasizes the Future in Addition to Historical Reports,whereas