Financial accounting information and managerial accounting information have a number of distinguishing characteristics. For each of the characteristics listed below, indicate which characteristics are more closely related to financial accounting by choosing the letter F and indicate those characteristics which are more closely associated with managerial accounting by choosing the letter M :
-Reports generally relate to the company as a whole
A) F
B) M

Question

Quizplus · Accepted Answer

Financial accounting information typically focuses on the company as a whole, providing a broad overview of its financial health and performance, which is useful for external stakeholders such as investors, creditors, and regulatory agencies. Managerial accounting, on the other hand, often provides more detailed reports that can focus on specific segments of the business, aiding internal decision-making.

Financial Accounting Information and Managerial Accounting Information Have a Number