Managerial accounting information: Select one: a. follows GAAP in the reporting process. b. can be tailored to the needs of the

Question

Musya8 [376]

3 years ago

14

Managerial accounting information: Select one: a. follows GAAP in the reporting process. b. can be tailored to the needs of the

internal user. c. helps shareholders make decisions. d. is a one size fits all approach to reporting business results.

Business

1 answer:

saveliy_v [14] · Answer 1 · 2022-07-04T04:45:16+03:00

Answer:

b. can be tailored to the needs of the internal user.

Explanation:

Managerial accounting information is basically for internal users, and is not aimed to provide information to external users. It aims of future projections.

It need not follow the US GAAP process, as there is no statutory requirement.

Shareholders are considered external for this purpose, as internal ones are, management, employees, labor etc:

Therefore, it does not help shareholders.

It does not report any kind of business results, it only aims to regulate transactions and accordingly planning future goals.

Therefore, correct option is

b. can be tailored to the needs of the internal user.