Final answer:
In management accounting, implementing strategies, developing budgets, and preparing special studies and forecasts are included within its scope, assisting in internal decision-making. However, preparing the Statement of Cash Flows is typically under the purview of financial accounting, which serves external reporting purposes. The correct option is (d) Preparing the Statement of Cash Flows.
Step-by-step explanation:
Management accounting is focused on providing financial information and analyses to managers within organizations to assist in decision-making, planning, and control of business operations. The question posed involves identifying which option is not typically included within the scope of management accounting.
Options in Management Accounting
Implementing strategies is a critical part of management accounting as it helps in executing the company's strategic plans.
Developing budgets is a fundamental aspect of management accounting, providing a financial blueprint that guides the organization's spending.
Preparing special studies and forecasts assists managers in anticipating future business conditions and planning accordingly.
These three tasks are commonly associated with management accounting as they relate to internal decision-making processes and are directly oriented towards the performance and management of the company.
Financial Accounting vs. Management Accounting
However, preparing the Statement of Cash Flows is typically a responsibility of financial accounting rather than management accounting. Financial accounting is more concerned with the preparation of financial statements, including the Statement of Cash Flows, which is provided to external users such as investors, regulators, and other stakeholders to meet statutory and regulatory requirements.
Based on this, the correct answer is option (d) Preparing the Statement of Cash Flows.