Managerial Accounting47.Internal reports must be communicated10 - 5 Show Get answer to your question and much more 48.Financial statements for external users can be described as Get answer to your question and much more 49.Managerial accounting reports can be described asa.general-purpose.b.macro-reports.c.special-purpose.d.classified financial statements. 50.The reporting standard for external financial reports is Get answer to your question and much more 51.Which of the following statements about internal reports isnottrue? Get answer to your question and much more 52.In an analogous sense, external user is to internal user as generally accepted accountingprinciples are to Get answer to your question and much more 53.Internal reports are generallya.aggregated.b.detailed.c.regulated.d.unreliable. 54.A distinguishing feature of managerial accounting is Get answer to your question and much more 55.What activities and responsibilities arenotassociated with management's functions? Get answer to your question and much more Knowledge Booster Learn more about Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below. Recommended textbooks for you  FINANCIAL ACCOUNTING ISBN:9781259964947 Author:Libby Publisher:MCG Accounting ISBN:9781337272094 Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E. Publisher:Cengage Learning, Accounting Information Systems ISBN:9781337619202 Author:Hall, James A. Publisher:Cengage Learning, Horngren's Cost Accounting: A Managerial Emphasis... ISBN:9780134475585 Author:Srikant M. Datar, Madhav V. Rajan Publisher:PEARSON Intermediate Accounting ISBN:9781259722660 Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas Publisher:McGraw-Hill Education Financial and Managerial Accounting ISBN:9781259726705 Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles Publisher:McGraw-Hill Education FINANCIAL ACCOUNTING ISBN:9781259964947 Author:Libby Publisher:MCG Accounting ISBN:9781337272094 Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E. Publisher:Cengage Learning, Accounting Information Systems ISBN:9781337619202 Author:Hall, James A. Publisher:Cengage Learning, Horngren's Cost Accounting: A Managerial Emphasis... ISBN:9780134475585 Author:Srikant M. Datar, Madhav V. Rajan Publisher:PEARSON Intermediate Accounting ISBN:9781259722660 Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas Publisher:McGraw-Hill Education Financial and Managerial Accounting ISBN:9781259726705 Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles Publisher:McGraw-Hill Education Which type of report does managerial accounting provide financial information for?Managerial accounting looks at past performance and creates business forecasts. Business decisions should be informed by this type of accounting. Investors and creditors often use financial statements to create forecasts of their own.
What are two major uses of managerial accounting information?Uses of management accounting includes enabling you to: compare your accounts with original budgets or forecasts. manage your resources better. identify trends in your business.
What documents are used in managerial accounting?Note
Does managerial accounting reports follow GAAP?Management accounting, unlike financial accounting, is not subject to reporting according to generally accepted accounting principles (GAAP). Since information generated by management accountants is used internally, the reports may be very informal.
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What is the major reporting standard for presenting managerial accounting information?
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