Answered

Find expert advice and community support for all your questions on IDNLearn.com. Our community is ready to provide in-depth answers and practical solutions to any questions you may have.

Comparing Financial and Managerial Accounting

Use the information below to answer the question:

Both financial and managerial accounting organize and communicate financial transactions, but they are intended for different audiences and serve different purposes.

Financial Accounting:
- Audience: External stakeholders (e.g., banks, investors, government)
- Reporting: Quarterly or annually
- Detail: High-level (aggregated) summary
- Verification: Extremely important, checked by experts inside and outside the company

Managerial Accounting:
- Audience: Business managers
- Reporting: As frequently as needed (daily, weekly, or monthly)
- Detail: Granular detail
- Use: Budgeting, hiring, and production purposes
- Verification: Usually checked by one expert inside the company

Question:
Which of the following is used for budgeting, hiring, and production purposes and analyzes these factors in granular detail?

A. Financial accounting
B. Aggregated accounting
C. Managerial accounting

Sagot :

GinnyAnsweridn

Final answer:

Managerial accounting is used for detailed analysis in budgeting, hiring, and production purposes.


Explanation:

Managerial accounting is used for budgeting, hiring, and production purposes, analyzing these factors in granular detail to help managers make informed decisions.


Learn more about Managerial accounting here:

https://brainly.com/question/43715920


Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. Find clear answers at IDNLearn.com. Thanks for stopping by, and come back for more reliable solutions.