Financial accounting
A) focuses on the future and includes activities such as preparing next year's operating budget.
B) must comply with IFRS/ASPE.
C) reports include detailed information on the various operating segments of the business such as product lines or departments.
D) is prepared for the use of department heads and other employees.

Question

Quizplus · Accepted Answer

Financial accounting must comply with International Financial Reporting Standards (IFRS) or Accounting Standards for Private Enterprises (ASPE) which are the accounting standards that dictate how financial statements should be prepared and presented.

Financial Accounting