The following statements consider how managers use information.
a. Companies must follow GAAP in their ____ accounting systems.
b. Financial accounting develops reports for external parties, such as ____ and ____.
c. When managers compare the company’s actual results to the plan, they are performing the ____ role of management.
d. ____ are decision makers inside a company.
e. ____ accounting provides information on a company’s past performance.
f. ____ accounting systems are not restricted by GAAP but are chosen by comparing the costs versus the benefits of the system.
g. Choosing goals and the means to achieve them is the ____ function of management.
Requirement
1. Complete each blank with one of the terms listed here. You may use a term more than once, and some terms may not be used at all.
Budget Creditors Managers Managerial
Controlling Financial Planning Shareholders