Question

Management Accounting ?

1. Must comply with international accounting standards.
2. Focuses primarily on the needs of managers internal to the organization.
3. Provides information for parties external to the organisation.
4. Involves reports focusing primarily on the enterprise in its entirety.
5. All of the above.

Answer 1

Management Accounting focuses on providing information to managers for internal use and does not comply with international accounting standards.

Step-by-step explanation:

Management Accounting focuses primarily on the needs of managers internal to the organization.

It involves the preparation of reports that provide information to help managers make decisions and control the organization's operations. These reports may include financial data such as budgets, performance analysis, and cost analysis.

While Management Accounting can comply with international accounting standards, it is not mandatory.

This distinguishes it from Financial Accounting, which is required to comply with international accounting standards.

In contrast to Financial Accounting, Management Accounting is primarily concerned with providing information for internal use and not for parties external to the organization.

This means that the reports produced by Management Accounting are focused on the enterprise in its entirety, rather than being intended for external stakeholders.