Managerial accounting information must follow U.S.Generally Accepted Accounting Principles (GAAP).

Name: Managerial accounting information must follow U.S.Generally Accepted Accounting Principles (GAAP).
Brand: Quizplus
Rating: 4.7 (55 reviews)

Question

Quizplus · Accepted Answer

Managerial accounting does not have to follow GAAP as it is used for internal decision-making and planning purposes rather than external financial reporting to stakeholders. However, it is important for managerial accounting information to be accurate and reliable.

Managerial Accounting Information Must Follow U