Which of the following is true of managerial accounting?
A) Managerial accounting is the provision of accounting information for a company's external users.
B) Managerial accounting aims at providing information for controlling the organization's actions.
C) Managerial accounting provides historical information.
D) Managerial accounting is subject to rules for external financial reporting.

Question

Quizplus · Accepted Answer

Managerial accounting focuses on providing information for internal decision-making and controlling the organization's actions, rather than providing information for external users. Additionally, managerial accounting is forward-looking and used for planning and decision-making, rather than just providing historical information. It is not subject to the same rules and regulations as financial accounting for external reporting purposes.

Which of the Following Is True of Managerial Accounting