The focus of financial accounting is on an organization's projects, processes, and subdivisions, and the focus of managerial accounting is on the whole organization.

Question

Quizplus · Accepted Answer

The statement is incorrect. The focus of financial accounting is on the organization's financial transactions and reports, and the focus of managerial accounting is on providing information for internal decision-making and planning for the whole organization, its projects, processes, and subdivisions included.

The Focus of Financial Accounting Is on an Organization's Projects