ACCA BT · Chapter 5 · Question 2 of 10
Which of the following is a typical feature of management accounting information?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) It may be prepared in any format that is useful to managers and often includes forecasts
Explanation
Management accounting serves internal managers, so there is no prescribed format and it frequently includes budgets, forecasts and non-financial information. Compliance with IFRS, a focus on shareholders and lenders, and external audit are characteristics of published financial statements.
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