Since cost accounting systems provide managers with information necessary to manage operations,the information from cost accounting systems is not useful for external reporting purposes.

Question

Quizplus · Accepted Answer

While the primary purpose of cost accounting systems is to provide managers with information to manage operations, the information from these systems can also be useful for external reporting purposes, such as in financial statements or tax returns. However, this information may require some adjustments or additional information in order to meet external reporting standards and requirements.

Since Cost Accounting Systems Provide Managers with Information Necessary to Manage