Reporting under managerial accounting is not restricted by specific rules such as generally accepted accounting principles (GAAP).

Name: Reporting under managerial accounting is not restricted by specific rules such as generally accepted accounting principles (GAAP).
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Quizplus · Accepted Answer

Unlike financial accounting, managerial accounting reporting is not regulated by specific rules such as GAAP. The reports are based on the needs of management and are flexible in format and content.

Reporting Under Managerial Accounting Is Not Restricted by Specific Rules