ACCT 2302 Ch 14 Managerial Accounting Concepts and Principles Smartbook.

Ch 14 Managerial Accounting Concepts and Principles Smartbook 1 1. The main purpose of both financial and managerial accounting is similar in that both aim to provide relevant information to its users. True 2. Managerial accounting has which of the following characteristics? Emphasis on projects, processes, and divisions Monetary and nonmonetary information Internal users 3. Managerial accounting is different from financial accounting in that: managerial accounting is used in planning and control decisions and financial accounting is used in making investment and credit decisions 4. Managerial accounting primarily provides information to Internal users 5. ______ accounting allows internal users to determine what information they need to make planning and control decisions. Managerial 6. The main purpose of managerial accounting is to provide general-purpose financial statements False 7. Managerial accounting information is normally provided to managers Quickly when needed 8. Match:  Financial – used by creditors  Managerial – uses many projections and estimates with some historical information 9. Financial accounting provides information for __________ decision makers, while managerial accounting pr