Managerial accounting:
A)focuses only on historical datA.
B)is governed by GAAP.
C)focuses primarily on the needs of personnel within the organization.
D)provides information for parties external to the organization.
E)focuses on financial statements and other financial reports.

Question

Quizplus · Accepted Answer

Managerial accounting focuses primarily on providing information to personnel within the organization to help with decision-making, planning, and control. It is not governed by GAAP and does not focus solely on historical data or provide information exclusively for external parties, such as investors or creditors. While it may include financial reports, its primary focus is on internal users of financial information.

Managerial Accounting