Management accounting has to strictly follow the rules of generally accepted accounting principles for the purposes of measurement and reporting.

Name: Management accounting has to strictly follow the rules of generally accepted accounting principles for the purposes of measurement and reporting.
Brand: Quizplus
Rating: 4.8 (26 reviews)

Question

Quizplus · Accepted Answer

Internal measures and reports do not have to follow GAAP. Usefulness and the cost/benefit approach are the guiding principles of management accounting.

Management Accounting Has to Strictly Follow the Rules of Generally