Chapter one managerial accounting notes

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  1. Primary users of Managerial accounting
    Internal users
  2. Purpose of managerial financial information
    Plan, direct, control, decide
  3. Primary accounting product
  4. Primary managerial accounting product
    Internal reports that are useful to management
  5. Do primary managerial accounting products come out on a regular basis
  6. T or F: GAAP determines what is included in a primary managerial accounting product
    FALSE: Management defines what is included
  7. The underlying basis of managerial accounting information
    Internal and external transactions, focus on the future
  8. Data must be _____ to be included in the reports.
    A. Relevant
    B. Objective
    C. B & C
    D. Reliable
    A. Relevant
    (this multiple choice question has been scrambled)
  9. Business unit
    segments of the business
  10. Preparation of the primary managerial accounting product
    depends on management needs
  11. Verification of managerial accounting
    Internal audit
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Chapter one managerial accounting notes
2013-09-06 16:21:07
Chapter one managerial accounting notes

Chapter one managerial accounting notes
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