Which of the following statements is correct? A. Managerial accounting systems provide information primarily used by shareholders and other external users. B. Financial accounting relies on the knowledge of broad, multidisciplinary teams to properly record and report transactions. C. The preparation of managerial accounting information is bound by Generally Accepted Accounting Principles. D. Managerial accounting systems produce the four basic financial statements. E. Reports and other output provided by financial accounting systems focus on the past.