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Do traditional financial statements that are reported to investors provide the information needed...

Question:

Do traditional financial statements that are reported to investors provide the information needed by internal users of the financial statements?

Managerial Accounting

Managerial Accounting, unlike financial accounting, is focused on the business and internal decision makers, rather than external stakeholders. The goal of managerial accounting is to provide information to the decision makers, in order for them to have what they need to make the correct decisions for the business.

Answer and Explanation:

The financial statement provide great information for internal users, but not everything. In conjunction with managerial reports, the financial statements will help provide the information necessary for management to make effective business decisions.


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Managerial Accounting Functions

from Business Management: Help & Review

Chapter 9 / Lesson 1
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