The financial plans prepared by managerial accountants are referred to as

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Financial plans prepared by managerial accountants are generally called budgets. They are used as a tool for setting goals and objectives for an organization's future operations and for monitoring progress towards achieving them. Financial statements are historical reports that summarize an organization's financial activities over a period of time. Treasurer's reports and controller's opinions are informative but not financial plans.

The Financial Plans Prepared by Managerial Accountants Are Referred to as