Which of the following statements BEST describes managerial accounting?
A) Managerial accounting focuses on information for internal decision making.
B) Managerial accounting focuses on outside investors and lenders.
C) Managerial accounting provides information for the public.
D) Managerial accounting provides information for taxing authorities.

Question

Quizplus · Accepted Answer

Managerial accounting is concerned with providing financial information to internal users (managers, executives, etc.) to aid them in decision making and planning. It is not primarily concerned with external reporting or compliance with tax regulations.

Which of the Following Statements BEST Describes Managerial Accounting