Asked by Hannah Kristen on May 09, 2024
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The primary reason that financial accounting and managerial accounting have somewhat different objectives is because they
A) need information in different formats
B) provide information for different decisions
C) need information in different geographic locations
D) need information at different times
Financial Accounting
The field of accounting focused on the summary, analysis, and reporting of financial transactions related to a business, leading to the creation of financial statements.
Managerial Accounting
The practice of analyzing, interpreting, and communicating financial information to managers for the purposes of business decision-making.
- Understand the differing objectives of financial and managerial accounting.
Verified Answer
Learning Objectives
- Understand the differing objectives of financial and managerial accounting.
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