Maria Mayer is in her second week working in the financial department of Taylorsville Company. On a daily basis, she sees dozens of numerical reports. A few of those reports are described to her as coming from the financial accounting system, but most of the reports are labeled as coming from the managerial accounting system. For this week, Maria has been asked to focus on just the managerial accounting reports. What description can Maria use to correctly identify a managerial accounting report?

A managerial accounting report emphasizes compliance with generally accepted accounting principles.

A managerial accounting report is used primarily by investors and creditors.

A managerial accounting report focuses on the preparation of the balance sheet, income statement, and statement of cash flows.

A managerial accounting report compares planned and actual results.