Which of the following is true of managerial accounting? Managerial accounting primarily focuses on the organization...

Which of the following is true of managerial accounting?

Managerial accounting primarily focuses on the organization as a whole rather than segments within the organization.

Managerial accounting focuses on the future of the organization.

Managerial accounting must follow GAAP.

Managerial accounting values precision over timeliness.

Solutions

Expert Solution

Answer: Managerial accounting focuses on the future of the organization

Suppose, a company is considering introducing a new product.

Making projections for sales, costs etc...for the new product would be a managerial accounting function.

Note:

Managerial accounting primarily focuses on the segments within the organization rather than the organization as a whole.

Managerial accounting do not need to follow GAAP.

Managerial accounting is more concerned with timeliness than accuracy.

ekkarill92 answered 1 year ago

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