1. Consider the following short descriptions.

Required: Indicate whether each description relates more closely to a major feature of financial accounting or management accounting.

1. Report on past performance to external parties
2. Inform internal decisions made by employees and managers
3. Provides information to stockholders and creditors
4. Has less flexibility
5. Is characterised by detailed reports
6. Is future oriented
7. Field is less sharply defined
8. Behavioural impact is secondary
9. Delayed, historical
10. Is constrained by regulations