Which of the following are differences between management and financial accounting?
A)Nature of reports produced
B)Frequency of reports
C)Level of detail in reports
D)All of the above

Question

Quizplus · Accepted Answer

Both management and financial accounting differ in terms of the nature of reports produced, frequency of reports, and level of detail in reports. Management accounting primarily focuses on providing information for internal decision-making, therefore the reports are more detailed and frequent. Financial accounting, on the other hand, produces reports for external parties, such as shareholders and regulators, which are usually less detailed and produced on a regular basis, such as quarterly or annually.

Which of the Following Are Differences Between Management and Financial