Which of the following is not a true statement?

A. Financial accounting concerns the preparation of financial reports for external users on a monthly basis.

B. Management accounting concerns the provision of financial reports to managers.

C. Management accounting reports can be produced using non- standardised formats across companies.

D. For most organisations, the accounting system can be seen as the most extensive and all encompassing information system.

E. A reducing level of confidence in financial accounting systems would translate into a greater reluctance for equity providers to invest in companies