Question

Managerial accounting reports are a.prepared periodically only b.related to the entire business entity only c.prepared according to GAAP d.prepared according to management needs

Answer 1

Answer:

The correct answer is letter "D": prepared according to management needs.

Explanation:

Managerial accounting reports are the principal tool top executives use to make their decisions. Thanks to accounting reports managers can check what the costs of production are and how profitable the operations of the firm have been in terms of expenditure. These reports also help managers to find out what aspects of the company should be improved to maximize productivity and efficiency.

Most managerial accounting reports are tailored to the executives' demands.