E19-1 Listed below are several terms relating to the functions of managers and the differences between financial and management accounting. Complete the following statements with one of these terms. You may use a term more than once, and some terms may not be used at all. Budget Controlling Creditors Financial accounting Managers Management accounting

a. Financial accounting develops reports for external parties, such as Planning Shareholders and

b. When managers evaluate the company's performance compared to the plan, they are performing the role of management.

c. Companies must follow GAAP in their, systems.

d. are decision makers inside a company.

e. 4. provides information on a company's past performance. systems are not restricted by GAAP, but are chosen by comparing the costs versus the benefits of the system. g. Choosing goals and the means to achieve them is the, function of management.