Current Attempt in Progress Chris Koplinski has prepared the following list of statements about managerial accounting and financial accounting. Identify each statement as true or false. 7. 8. 9. 10. 1. 2. 5. 3. Financial accounting focuses on providing information to internal users. 4. Managerial accounting applies only to merchandising and manufacturing companies. Managerial accounting analyzes how changes in the number of units produced impact production costs and profitability. Preparation of budgets is part of financial accounting. 6. Managerial accounting reports are prepared only quarterly and annually. Both managerial accounting and financial accounting deal with many of the same economic events. Financial accounting reports are general-purpose reports. Managerial accounting reports pertain to subunits of the business. Managerial accounting reports must comply with generally accepted accounting principles. Although managerial accountants are expected to behave ethically, there is no code of ethical standards for managerial accountants. Texthook and Media True >

Current Attempt in Progress Chris Koplinski has prepared the following list of statements about managerial accounting and financial accounting. Identify eachstatement as true or false. 1. Financial accounting focuses on providing information to internal users. 2. Managerial accounting analyzes how changes in the number of units produced impact production costs and profitability: 3. Preparation of budgets is part of financial accounting: 4. Managerial accounting applies only to merchandising and manufacturing companies. 5. Both managcrial accounting and financial accounting deal with marty of the same economic events. 6. Managerialaccountingreports are prepared only quarterly and annually. 7. Financial accounting reports are gerieral-purpose reports. 8. Managerial accountingreports pertain to subunits of the business. 9. Managerial accounting reports must comply with generally accepted accounting principles. 10. Alhough managerial accountants are expected to behave ethically, there is no code of ethicalstandards for managerial accountants