1. Primary users are external 2. Includes more nonmonetary information 3. Focuses more on the future 5. Controlled by GAAP 6. Used in managers' planning decisions 7. Focuses on the whole organization 8. Not constrained by GAAP 4. Uses many estimates and projections

1. Primary users are external 2. Includes more nonmonetary information 3. Focuses more on the future 5. Controlled by GAAP 6. Used in managers' planning decisions 7. Focuses on the whole organization 8. Not constrained by GAAP 4. Uses many estimates and projections

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 16MC: Which of the following statements is false? A. The four dimensions of performance that are...

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Question

Following are aspects of accounting information. Classify each as pertaining more to financial accounting or to managerial accounting.

1. Primary users are external
2. Includes more nonmonetary information
3. Focuses more on the future
5. Controlled by GAAP
6. Used in managers' planning decisions
7. Focuses on the whole organization
8. Not constrained by GAAP
4. Uses many estimates and projections

Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

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