Managerial accounting uses procedures developed internally that are not required to follow accounting standards.

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Managerial accounting is concerned with providing information to internal users. Therefore, the procedures and methods developed by a company's management may not necessarily follow generally accepted accounting principles (GAAP) or accounting standards. The purpose of managerial accounting is to provide relevant and timely information for decision-making, planning, and control within an organization.

Managerial Accounting Uses Procedures Developed Internally That Are Not Required