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The objectivity standards of management accountants state that they must communicate information fairly and objectively. This means essentially that accountants must perform each task

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The objectivity standards of management accountants state that they must communicate information fairly and objectively. This means essentially that accountants must perform each task

A as professionals, possessing the degree of skill of those management accountants who held the position before them.

B so as to provide relevant information, both positive and negative, to the recipients of their reports.

C to the satisfaction of government regulators.

D in conformity with generally accepted accounting principles. ↓y

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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