Management accounting reports are prepared:
A)based on GAAP and IASB accounting standards
B)to provide information for a wide range of stakeholders
C)to provide up to date information to managers for decision making
D)based only on historical figures

Question

Quizplus · Accepted Answer

Management accounting reports are prepared to provide up to date information to managers for decision making. They are not necessarily based on GAAP and IASB standards and may also provide information to a limited range of stakeholders rather than a wide range. While they may use historical figures as a basis for analysis, they may also incorporate future projections and forecasts.

Management Accounting Reports Are Prepared