Managerial accounting is used by managers to
A)plan, evaluate, and control financial statements and to assure appropriate use of and accountability for organizational resources.
B)generate and analyze relevant information to support managers' strategic decision making.
C)focus on past results to aid in decision-making for managers.
D)decide the long-term direction of a company and comply with GAAP.

Question

Quizplus · Accepted Answer

Managerial accounting is used by managers to generate and analyze relevant information to support managers' strategic decision making. It focuses on providing internal users (managers) with relevant financial and non-financial information for planning, evaluation, and control of organizational resources. Managerial accounting is not specifically concerned with complying with GAAP or deciding the long-term direction of a company, nor does it focus solely on past results.

Managerial Accounting Is Used by Managers to