“Communication financial results and positions to external parties”. Is it not a primary function of the management accountant?

Q: directed towards future and present, b) follows standards and norms, c) helps managers in decision…

A: Financial statements comprises of the following: Balance Sheet  Income statement  Statement of Cash…

Q: The financial statements of a company are management's, not the accountant's.” Discuss the…

A: Financial statement: Financial statements are prepared to summaries the account at the end of the…

Q: business manage

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: The cost of having financial statements audited by an independent accounting firm.

A: Cost refers to the monetary value which includes the expenditure for supplies, services,…

Q: Who is in charge of financial accounting and who is in charge of management accounting?

A: The Answer

Q: What are the functions of the financial balance sheet in assisting in management's decision-making…

A: The question is based on the usage of balance sheet in financial decision making  by managers.

Q: How does management accounting differ from financial accounting?

A: State the way in which the management accounting differs from financial accounting:Accounting is an…

Q: An organization’s investors and creditors will primarily use information provided by:a. the…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Why would a client ask an accountant to report on a financial statement element?

A: Definition:

Q: How can the tools in assessing accounting quality assist financial analyst

A: The value of financial accounting is primarily defined only by its quality. The core premise of…

Q: Management accounting provides economic and financial information for external users such as…

A: Management accounting: It is the process of preparing the reports of a business operation helping…

Q: Management, not the accountants, prepares a company's financial statements. Think what what this…

A: The answer :

Q: What is the role of the accountant in setting and implementing the goals of the company?

A: Profit maximisation: It is the goal of every company to earn maximum profit along with the…

Q: A type of analysis wherein an analyst need to know the implemented methods by the management to…

A: Financial Statement Analysis- It refers to the analysis made on the company's financial statement.…

Q: True (t) or False (f) ______ Financial accounting is the process of identifying, measuring,…

A: The Statement is "True (t)".

Q: Suppose you are tasked to construct and evaluate complex financial statements, including those…

A: SASB standards are those standards which provide information in relation to the corporate…

Q: What are  the factors that accountants should consider when setting up company accounting policy…

A: The assets are the items in the balance sheet of the company that will generate the future economic…

Q: What is the fundamental difference between financial accounting and management accounting in terms…

A: An accountant's job is to keep track of the findings and analyze them.

Q: Which is correct about financial information? a. Financial information’s purpose is only to comply…

A: a. Financial information’s purpose is only to comply with needs of external users such as the…

Q: Management accounting focuses primarily on providing data for: Oa. internal uses by managers Ob.…

A: There are different types of accounting such as financial accounting, management accounting, cost…

Q: Indicate whether each statement describes financial accounting or managerial accounting.A. The…

A: Financial Accounting means the process of recording the transaction , posting , summarizing ,…

Q: Financial accounting provides information for managers and other internal users. Select one:…

A: Financial statement are prepared by the management for users decisions making. Financial statements…

Q: t

A: Definition of an Accountant An accountant is an expert who is liable for keeping and deciphering…

Q: How do the subject matter of reports and the verification of reports differ between financial…

A: Both financial and managerial reporting have different scope and objectives .Detail explanation…

Q: what are real world issues and problems faced by the financial managers

A: Financial manager is more precisely responsible for procurement of funds at effective cost and…

Q: Financial services are concerned with the duties of the financial manager.ture or false

A: Financial services includes professional services involving the investment and management of money.…

Q: Identify the key financial decisions facing the financial manager of any business firm and Explain…

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: What is meant by "financial accounting" and "management accounting"? What is the difference between…

A: Financial Accounting:    It is collection of accounting data to create financial statements. It…

Q: Is there a distinction between management and financial accounting?

A: Accounting refers to a process through which all day-to-day activities or transactions occurred or…

Q: measuring, analyzing, and communicating financial nformation needed by management to plan, evaluate,…

A: Reasons along with answers are given below.

Q: Which of the following statements regarding users of financial information is correct? Managers of…

A: Financial statement means the statement including income statement , balance sheet , cash flow…

Q: What  is  the  double entry  system  in accounting?

A: Solution Note : Dear student as per the Q&A guideline we are required to answer the first…

Q: Which characteristic applies more to financial accounting than to managerial accounting? a. Company…

A: Accounting have different branches which deals with different accepts of accounting. Financial…

Q: Who regulates financial accounting and who regulates managerial accounting

A: Financial accounting: Financial accounting is different from managerial accounting. Financial…

Q: Financial accounting is the primary source of information needed for decisio making, planning, and…

A: Note: As per our guidelines, we will answer the first question for you.   Q1. The income statement…

Q: what is professional judgement in financial accounting ?

A: Financial accounting is that branch of accounting which deals in recording of transactions,…

Q: The following are basic characteristics of management accounting, except A. It is future-oriented.…

A: Lets start with the meaning of managerial accounting. As the name suggest, it is a accounting for…

Q: The major objective of financial reporting is to provide information that is useful to management in…

A: Financial reporting consists of: Financial statements  Annual report Prospects issued to the…

Q: Compare ways in which organisations could use management accounting to respond to financial…

A: Identifying financial issues: using budgetary targets, key performance indicators (non-financial and…

Q: Which of the following branches of accounting is often limited to preparing and distributing…

A: Accounting is the process whereby the costs and revenues of the business are estimated and recorded.…

Q: financial information alone be insufficient for the ongoing informational needs of operat

A: Financial information is the data conveyed by the financial statements regarding the financial…

Q: Discuss the relationship between Management Accounting and Financial Accounting

A: Accounting comprises of processes that allow access to critical information that aids in…

Q: Explain why financial statements are important to managers and to outside parties

A: Financial statements are those statements that present a formal record of the various financial…