A distinction is often made between management accounting and financial accounting. Management accounting focuses on internal reporting. It measures and reports financial and nonfinancial information that helps managers make decisions to fulfill the goals of an organization. Financial accounting focuses on reporting to external parties. It measures and records business transactions and provides financial statements issued to investors, government regulators, and other interested parties.

Charles T$.$ Horngren, Cost Accounting, A Managerial Emphasis, $13$th ed$.$

Group of answer choices

Argument; conclusion: It measures and records business transactions parties.

Argument; conclusion: Financial accounting focuses on external parties.

Nonargument.

Argument; conclusion: A distinction is often made financial accounting.

Argument; conclusion: Management accounting focuses on internal reporting.

Answer rating: 100% (QA)

Argument conclusion Financial accounting focuses on external parties Exp... View the full answer