Complete the following statements with one of the terms listed here. You may use a term more than once, and some terms may not be used at all. Budget Creditors Planning Managerial accounting Managers Controlling Financial accounting Shareholders a. Information on a company's past performance is provided to external parties by financial accounting b. Managerial accounting systems are chosen by comparing the costs versus the benefits of the system and are not restricted by GAAP (or International Financial Reporting Standards, IFRS, in the case of companies headquartered in many countries outside of the United States). C. systems report on various segments or business units of the company. d. Financial accounting develops reports for external parties such as and e. When managers evaluate the company's performance compared to the plan, they are performing the role of management. f. CPAs audit the statements of public companies. g. Companies must follow GAAP (or International Financial Reporting Standards, IRFS, in the case of companies headquartered in many countries outside of the United States) in their systems. h. Choosing goals and the means to achieve them is the function of management. i. Decision makers inside a company are the