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Which of the following is true regarding the comparison of managerial and financial accounting?

<p><em><strong>A. Managerial accounting is generally more precise. </strong></em></p> <p><em><strong>B. Managerial accounting has a past focus, and financial accounting has a future focus. </strong></em></p> <p><em><strong>C. The emphasis on managerial accounting is relevance, and the emphasis on financial accounting is timeliness. </strong></em></p> <p><em><strong>D. Managerial accounting need not follow generally accepted accounting principles (GAAP), while financial accounting must follow them.</strong></em></p>

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تاريخ النشر: 2015/01/14
Ahmed Abdi Mahad
من قبل Ahmed Abdi Mahad , Director of Internal Auditing Directorate , Jigjiga University

choice D, is the correct answer for this question. thanks

mohamed Hakim CMA CPA Candidate
من قبل mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia

very good Question

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Mehboob Ali Laghari
من قبل Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union

Yes Correct option is D"""""""""""""""""""

Mark Angelo Damuag
من قبل Mark Angelo Damuag , Financial Analyst , Evacare Management Consultancy Inc

The answer is letter D. Managerial accounting need not follow GAAP while Financial accounting shoud follow GAAP.

Hossam Mohamed
من قبل Hossam Mohamed , Senior Accountant , Allied Arab Assurance Brokerage

Answer (D) is correct........

Saif Ali Syed
من قبل Saif Ali Syed , Chief Accountant , United Gulf Aircraft Fueling Company (A Joint Venture of Emirates National Oil Company)

D represents the correct answer i.e. Managerial accounting does not has to be based on international or local accounting standards while Financial accounting shoud follow GAAP or IFRS.

Habeeb Ajidahun
من قبل Habeeb Ajidahun , manager , OHE hotel

financial accounting must follow generally accepted accounting principles while managerial need not follow them,option D is the correct answer

Mir Mujtaba Ali
من قبل Mir Mujtaba Ali , Internal Audit Manager , Confidential

D. Managerial accounting need not follow generally accepted accounting principles (GAAP), while financial accounting must follow them. (In fact, conformance with U.S. GAAP may be a deterrent to getting useful information for internal decision-making purposes)

Malik Saleem Iqbal
من قبل Malik Saleem Iqbal , Assistant Finance Manager , Ali Zaid Al-Quraishi & Brothers Co LTD

Answer is :- D

Financial Accounting should follow GAAP while Managerial Accounting need not follow

ishtiaq khattak
من قبل ishtiaq khattak , Accountant Assistant , Lucky Cement

D: Option D is the most relevant answer

Umer Sharif
من قبل Umer Sharif , Head Of Accounts Dept , Allied Petroleum Pvt Ltd

Yes the correct option is D

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