Financial accounting is primarily concerned with:
A) The provision of financial information to internal interested parties
B) Reporting at the micro-level
C) The provision of information for managers' use
D) The provision of financial information to external interested parties

Question

Quizplus · Accepted Answer

Financial accounting is concerned with providing financial information to external interested parties, such as investors, creditors, regulators, and the public at large. It involves the preparation of financial statements, which provide information about a company's financial performance and position, and help users make informed decisions. Internal financial information for management's use is provided by managerial accounting, and reporting at the micro-level is typically the domain of cost accounting.

Financial Accounting Is Primarily Concerned With