S 14-1 (Algo) Managerial vs. financial accounting LO C1 Identify whether each description most likely applies to managerial or financial accounting 1. Its primary focus is on the organization as a whole. Financial accounting 2. It contains mostly monetary information, and some nonmonetary information. Managerial accounting 3. It focuses mainly on past results. Financial accounting 4. Reporting is relatively flexible and without GAAP constraints 5. Its primary users are outside of the organization. Save & E Chee