In comparison with a financial statement prepared in conformity with generally accepted accounting principles,a managerial accounting report is more likely to:
A)Be used by decision makers outside of the business organization.
B)Focus upon the operating results of the most recently completed accounting period.
C)View the entire organization as the reporting entity.
D)Be tailored to the specific needs of an individual decision maker.

Question

Quizplus · Accepted Answer

Managerial accounting reports are designed for internal use by management and decision makers within the organization. Therefore, the reports are tailored to meet the specific needs of individual decision makers and are not bound by the conventions of generally accepted accounting principles. They focus on providing information that is relevant, timely, and useful in making operational and strategic decisions.

In Comparison with a Financial Statement Prepared in Conformity with Generally