Select all that apply Which of the following parties would be more interested in managerial accounting data than in financial accounting data? (Check all that apply.) Multiple select question. VP of Business Planning Controller Shareholders Production Manager

Select all that apply Which of the following parties would be more interested in managerial accounting data than in financial accounting data? (Check all that apply.) Multiple select question. VP of Business Planning Controller Shareholders Production Manager

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter1: Role Of Accounting In Society

Section: Chapter Questions

Problem 4MC: Which of the following groups would have access to managerial accounting information? A. bankers B....

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Select all that apply Which of the following parties
would be more interested in managerial accounting
data than in financial accounting data? (Check all that
apply.) Multiple select question. VP of Business Planning
Controller Shareholders Production Manager

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Managerial accounting produces information: to meet the needs of external users that is often focused on the future to meet the needs of investors that follows the rules of GAAP
An effective managerial accounting system should track information about an organizations activities in which of the following areas? a. Development b. Marketing c. Production d. Design e. All of these.
Should a managerial accounting system provide both financial and nonfinancial information? Explain.
An important goal of a responsibility accounting framework is to help ensure which of the following? A. decision-making is made by the top executives. B. investments made by each segment are minimized. C. identification of operating segments that should be closed. D. segment and company financial goals are congruent.
When managerial accountants design an evaluation system that is based on criteria for which a manager is responsible, and it is structured to encourage managers to make decisions that will meet the goals of the company as well as their own personal job goals, the framework used is _______. A. a controllable factors framework B. an uncontrollable factors framework C. a strategic plan framework D. a responsibility accounting framework
External users of accounting information would include ________________. employees managers investors supervisors
Who are the primary users of the information gathered by managerial accountants?
Managers in decentralized organizations make decisions relating to all of the following except_______. A. the companys stock price B. equipment purchases C. personnel D. prices to charge customers
All of the following are examples of managerial accounting activities except ________. A. preparing external financial statements in compliance with GAAP B. deciding whether or not to use automation C. making equipment repair or replacement decisions D. deciding whether or not to use automation
Explain how managerial accountants help managers plan, control, and evaluate.
What are the key differences between financial accounting and managerial accounting?
Which of the following groups would have access to managerial accounting information?A. bankersB. investorsC. competitors of the businessD. managers