The content of management accounting reports needs to be presented in conformity with generally accepted accounting principles.

Question

Quizplus · Accepted Answer

While financial accounting reports must be presented in conformity with generally accepted accounting principles, management accounting reports are not subject to the same requirements. The content of management accounting reports is tailored to specific user needs and may include non-financial measures as well as financial information presented in unconventional formats.

The Content of Management Accounting Reports Needs to Be Presented