Question

_____ would provide stockholders or creditors with information about the overall financial performance of a firm, while _____ would provide information needed by a firm’s vice president of marketing who wants to view changes in the marketing budget for a new product. Group of answer choices

Answer 1

Answer:

Financial Accounting would provide stockholders or creditors with information about the overall financial performance of a firm, while Managerial Accounting would provide information needed by a firm’s vice president of marketing who wants to view changes in the marketing budget for a new product.

Explanation:

In the accounting world, we may find different branches each one of them specialized in providing with certain precise information and analysis according to what an organization is looking for. Financial Accounting studies the organization's financial transactions. With the help of standardized guidelines, those transactions are summarized, recorded, and presented in a statement or report. Thanks to that information, Managerial Accounting can interpret the financial data to the heads of the organization into future decisions they may be taking in order to react towards achieving the goals of the company.