Management accounting often requires forward-looking data because of the futuristic nature of many business decisions.

Question

Quizplus · Accepted Answer

Management accounting is concerned with providing information and analysis to support business decisions. Since many of these decisions involve planning and forecasting for the future, management accounting often requires forward-looking data. It helps in identifying trends, analyzing the impact of various scenarios, and making informed decisions to achieve the organization's goals. Hence, the given statement is true.

Management Accounting Often Requires Forward-Looking Data Because of the Futuristic