True or False

1. Management reporting is normally in percentages, diagrams, and graphs so that the reports can be easily understood by a common user.

2. Interpretation of data can be done better by comparing previous year's performance with the current year's performance.

3. Financial management is concerned with raising financial resources either by borrowings or issuance of shares of stocks.

4. Cost accounting generates general purpose financial statements.

5. Managerial accounting is the process of analyzing, interpreting and presenting of financial statements prepared under financial accounting.

6. Owner is a user of the financial statement who wants to know the real health of his business as well as the return of his investment.

7. Managerial accounting involves detailed report.

8. Quantitative techniques does not include transportation model or theory.

9. In accounting, the time value of money is also considered.

10. Management accounting assists timely presentation of financial statements to the management of the business.

Explain briefly and concise in your own understanding.

1. How do the objectives of management accounting contribute to the success of business operations?