Identify whether each description most likely applies to managerial or financial accounting.

$\backslash$table$[[1.$ Its information is often available only after an audit is complete.$],[2.$ Reporting is relatively flexible and without GAAP constraints$],[3.$ Its principles and practices are relatively flexible.$],[4.$ It focuses mainly on past results.$],[5.$ It contains mostly monetary information, and some nonmonetary information.$]]$