accounting 1.1

What process in management accounting?

• identifying

• analysing

• presenting managerial accounting

• recording

What's the correct answer for Primary Users of Reports

• Financial Accounting- Internal users such as officers

  Managerial Accounting - external users such as managers of business

• Financial Accounting- external users such as creditors

  Managerial Accounting- such as stockholders

• Financial Accounting- external users such as suppliers

  Managerial Accounting- internal users such as officers

Types and Frequency of Reports Managerial Accounting

• Statement of changes in equity

• As frequently as needed by the management

• Cash Analysis Reports

Types and Frequency of Reports Financial Accounting

• Statement of Changes in Equity

• Quarterly and Annually

• Cash Analysis Reports

What is the correct pair for Purpose of Reports

• Financial Accounting- General Purpose

  Managerial Accounting- Special Purpose

• Financial Accounting-Special Purpose

  Managerial Accounting- General Purpose

• Financial Accounting- General Purpose

  Managerial Accounting- Special Purpose for specific decisions

Contents of Reports for Financial Accounting

• Pertains to business as a whole ,Required to follow MFRS

• Pertains to subunits of the business, Not required to follow MFRS

• Pertains to business as a whole ,Not required to follow MFRS

Contents of Reports for Managerial Accounting

• Pertains to business as a whole, Required to follow MFRS

• Pertains to subunits of the business, Not required to follow MFRS

• Pertains to business as a whole, Not required to follow MFRS

Financial Accounting and Managerial Accounting for Verification of Reports

• Required to be published

• Audited by statutory auditors

• Neither Published

• Nor audited by statutory auditors