Question: Why is managerial accounting more suitable for internal reporting than for financial accounting?

Why is managerial accounting more suitable for internal reporting than for financial accounting?

Step by Step Solution

★★★★★

3.43 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The main reason why managerial accounting is more suitable for internal reporting is that it provide... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Managerial Accounting Questions!

Q:

Why is managerial accounting more suitable for internal reporting than financial accounting?

Q:

Why is managerial accounting relevant to business majors and their future careers?

Q:

Why is managerial accounting relevant to accounting majors and their future careers?

Q:

Why is managerial accounting more suitable for internal reporting than financial accounting?

Q:

AC 212 Test #1/October 1, 2018 True/False (2 Points Each)- 1. A factory supervisor's salary would be classified as an indirect cost with respect to a unit of 2. The sum of all manufacturing costs...

Q:

Assignment Questions: 1. One of the differences between Managerial Accounting and Financial Accounting is reporting flexibility. Financial reporting is restricted by Generally Accepted Accounting...

Q:

help to solve this /c/NDg2NzQyNjMxODIO/a/NTMyNTA4MTc2NjQ0/details 1. At the end of its first year of operations, Lockerbie and Role Company has total assets of $3,000,000 and total liabilities of...

Q:

managerial accounting provides only financial data to users while financial accounting provides both economic and financial data in reporting. A key difference between financial and managerial...

Q:

Unlike financial accounting, which is primarily concentrated on the coordination and reporting of the company's financial transactions to outsiders, managerial accounting is focused on internal...

Q:

Discuss further Financial accounting is the most regulated and standardized. It is based on historical transactions. It has laws and regulations that require standardization and reporting. Financial...

Q:

Ann Arbor Railroad (AAR) is a railroad company that is partly financed by the US Department of Transportation through its high-speed rail stimulus initiative. AAR operates daily train service between...

Q:

Which compound in each of the following pairs of compounds is the more soluble one? a. Silver chloride or silver iodide b. Magnesium hydroxide or copper(II) hydroxide

Q:

High - level languages are very difficult to learn. Select one: True False

Q:

3. Mymanagementlab Only - comprehensive writing assignment for this chapter.

Q:

Revenues generated by a new fad product are forecast as follows: Year Revenues 1 1 $42,017 2 40,000 3 20,000 4 10,000 Thereafter 0 Expenses are expected to be 50% of revenues, and working capital...

Q:

Assume all firms have the same expected dividends. If they have different expected returns, how will their market values and expected returns be related? What about the relation between their...

Q:

A proposed nuclear power plant will cost $2.9 billion to build and then will produce cash flows of $370 million a year for 15 years. After that period (in year 15), it must be decommissioned at a...