Final answer:
The management accounting statement is 'B. There are no regulations governing the reports', indicating that management accounting is used internally for decision-making and not regulated like financial accounting.
Step-by-step explanation:
The statement that refers to management accounting information is: B. There are no regulations governing the reports. Management accounting differs from financial accounting in that it is primarily used for internal decision-making within the organization, and thus it is not bound by the same reporting standards and regulations such as GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards) that govern financial accounting. Management accounting focuses on providing information that helps managers plan, direct, and control business operations and make informed decisions.
As firms grow and establish themselves, the need for complex and detailed management accounting information becomes more pronounced. Information about the company's products, revenues, costs, and profits enable managers and internal stakeholders to formulate strategies and continue to attract investment from external sources such as bondholders and shareholders.