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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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Question added by Deleted user
Date Posted: 2015/01/14
Ahmed Abdi Mahad
by 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
by mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia

very good Question

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

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

Mark Angelo Damuag
by 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
by Hossam Mohamed , Senior Accountant , Allied Arab Assurance Brokerage

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

Saif Ali Syed
by 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
by 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
by 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
by 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
by ishtiaq khattak , Accountant Assistant , Lucky Cement

D: Option D is the most relevant answer

Umer Sharif
by Umer Sharif , Consultant Lead Financial, Functional, Implementation of Infor ERP Syteline ‚ Eccountant & SmartHCM. , Bin Rasheed Technology Pvt Ltd.

Yes the correct option is D

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