Management accounting includes all of the following EXCEPT
A)implementing strategies
B)developing budgets
C)preparing special studies and forecasts
D)preparing the statement of cash flows

Question

Quizplus · Accepted Answer

Management accounting involves preparing various reports, analyses, forecasts, and budgets to aid management decision-making. However, the statement of cash flows is a financial statement that is usually prepared by the accounting department in accordance with Generally Accepted Accounting Principles (GAAP) and is primarily used for external financial reporting purposes, rather than management decision-making. Therefore, D is the correct answer as it is the only option that is not part of management accounting.

Management Accounting Includes All of the Following EXCEPT