Managerial accounting is not bound by generally accepted accounting principles (GAAP) but clearly is influenced by GAAP. Budgets and the budgeting process demonstrate connections to GAAP. Discuss.

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The Answer of Managerial accounting is not bound by generally accepted accounting principles (GAAP) but clearly is influenced by GAAP. Budgets and the budgeting process demonstrate connections to GAAP. Discuss.

Managerial Accounting Is Not Bound by Generally Accepted Accounting Principles