Some individuals argue that accountants should focus on producing financial statements and leave the design and production of managerial reports to information systems specialists. What are the advantages and disadvantages of following this advice? To what extent should accountants be involved in producing reports that include more than just financial measures of performance? Why?

Evaluate the following statements from an ethical perspective:“Earnings management in a narrow sense is the behavior of management to play with the discretionary accrual component to determine high or low earnings.”“Earnings are potentially managed, because financial accounting standards still provide alternative methods.”

Which phrase best describes the current role of the managerial accountant? Managerial accountants prepare the financial statements for an organization. а. b. Managerial accountants facilitate the decision-making process within an organization. с. Managerial accountants make the key decisions within an organization. d. Managerial accountants are primarily information collectors. Managerial Accountants are solely staff advisors in an organization e.

Which of the following statements is false? Select one: O A. Management accounting statements need not comply with Accounting regulations O B. Financial accounting statements normally reflect more detail than would be found in management accounting reports O C. Management accounting reports emphasise future activities and future costs O D. Financial accounting data are directed primarily at external users rather than internal users.