Question

Managerial Accounting-Reports to managers inside the organization for planning, controlling, and decision making.a. -Emphasizes decisions affecting the future.b. -Emphasizes relevance.-Emphasizes timeliness.c. -Emphasizes segment reports.d. -Doesn’t need to follow GAAP and IFRS.-Not mandatory.

Answer 1

Answer:

Here all the options given in the question are correct .

Explanation:

Managerial accounting is mainly done by the managers or management to prepare report for the internal users and with the help of such accounting , manager would be able to perform the planning, controlling and decision making activities. This accounting helps manager by providing useful data and estimates as soon as possible which would help in decision making. Managerial accounting does follow GAAP and IFRS but it is not mandatory for it to follow and also it is not compulsory for a company to perform managerial accounting .