Managerial accountants prepare financial statements to help users,both inside and outside of the organization,assess its financial strengths.

Question

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Managerial accountants primarily prepare detailed reports and analysis for internal use by management for decision-making purposes, not for external users. Financial accountants are the ones who prepare financial statements for external users to assess the organization's financial strengths.

Managerial Accountants Prepare Financial Statements to Help Users,both Inside and Outside