If you compare financial statements prepared in accordance with U.S.GAAP to a managerial accounting report,the managerial accounting report is more likely to:

Question

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Managerial accounting reports are used for internal decision-making purposes and therefore tend to provide more detailed financial information at the product or department level, whereas financial statements prepared under U.S. GAAP are intended for external users such as shareholders, creditors, and regulators, and provide a summary of financial results for the company as a whole.

If You Compare Financial Statements Prepared in Accordance with U