Managerial accounting differs from financial accounting in several areas. Specify whether each of the following characteristics relates to managerial accounting or financial accounting. reports are usually prepareu quarterly an arcany. b. Information is verified by external auditors. Financial accounting c. Focus is on the past. Financial accounting d. Main characteristic of information is that it must be relevant Managerial accounting Reports tend to be prepared for the parts of the organization rather than the whole e. organization 1. Primary users are internal (e. company managers), It is governed by Generally Accepted Accounting Principles (GAAP) or International 9. Financial Reporting Standards (IFRS). h. The primary characteristics of information are that it must be reliable and objective