Following are certain characteristics of either financial accounting information or management accounting information.

Required: Designate each of the characteristics as pertaining to

(a) financial accounting information or

(b) management accounting information.

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Tends to be quite detailed. Generally limited to presenting historical information. Need not conform to a formal set of rules and standards. Information prepared primarily for external users. Tends to include only a limited amount of detail. Information prepared on a quarterly or yearly basis. 1. Must conform to GAAP. 2. 3. 4. 5. 6. 7. 8. 9. 10. Information prepared on a monthly, weekly, or daily basis. Information often includes future projections. Information prepared for use by internal parties.