Financial accounting is concerned primarily with

Question

Quizplus · Accepted Answer

Financial accounting focuses on the preparation and reporting of financial statements to external users, such as investors, creditors, and government agencies. It provides information about a company's financial position, performance, and cash flows. Cost planning, profitability analysis, and strategic decision making are typically addressed by managerial accounting. While financial accounting information can be useful for long-term decision making, its primary focus is on external reporting.

Financial Accounting Is Concerned Primarily with