Complete the following statements with one of the terms listed here. You may use a term more
Question:
Complete the following statements with one of the terms listed here. You may use a term more than once, and some terms may not be used at all.
a. ________ systems report on various segments or business units of the company.
b. When managers evaluate the company’s performance compared to the plan, they are performing the ________ role of management.
c. Information on a company’s past performance is provided to external parties by ________.
d. ________ systems are chosen by comparing the costs versus the benefits of the system and are not restricted by GAAP or IFRS.
e. CPAs audit the ________ statements of public companies.
f. Financial accounting develops reports for external parties such as ________ and ________.
g. Companies must follow GAAP or IFRS in their ________ systems.
h. Decision makers inside a company are the ________.
i. Choosing goals and the means to achieve them is the ________ function of management.
GAAPGenerally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
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