Management accounting  differs from financial accounting in many ways. Indicate with an “X” in the  appropriate column whether each of the following characteristics relates to  financial accounting, management accounting, or neither (1 Point Each).

 

	Financial Accounting	Management Accounting	Neither
Primary Users:
Owners, stockholders, lenders, customers, governmental agencies
Managers and lenders only
Managers, employees, supply-chain partners
Report Format:
Flexible, driven by user’s needs
Based on generally accepted accounting principles
Nature of information:
Objective and verifiable; reports on past performance
Objective and verifiable for decision making; subjective for    planning
Publicly available
Units of Measure:
Monetary at historical or current market or projected values;    physical measures of time or number of objects
Dollars at historical values only
Monetary at historical or current market values

Answer rating: 100% (QA)

Explanation 1 Primary Users Owners stockholders lenders customers governmental agencies Financial Accounting This characteristic relates to financial accounting Financial accounting is primarily conce... View the full answer