Question

Management accountants must satisfy their users therefore, they should do all the following except Multiple Choice o provide specialized information that specific managers can use. 0 O provide them with high quality information 0 focus on preparing information for external financial reporting. Bowly O continuously strive to provide better quality information foster, and at a lower cost 0 < Prex 7 of 20 Next > > x N] 0 W 2 3 4 5 6 7 8 9 0

Answer 1

Answer: Option-(c): focus on preparing information for external financial reporting. Reason: It is the core responsibility of a management accountant to gather, arrange, save and maintain all business information confidentially but at the same time must make them available to the users by way of reports & other financial statements readily available anytime so that users can access those information and reports for various business decision purpose. However, it is also important for a management accountant to understand which information should not be publicly made available because those information are specific in nature and should be kept confidentially. If those information is leaked out, firm's growth and expansion may get affected in one or more ways. Therefore, management accountants must satisfy their users by providing specialized information that specific managers can use, providing them quality information and striving continuously to provide better qualitative information faster but at a lower cost. From the above discussion, it is evidenced that management accountant must focus on internal reporting activities but not external reporting activities. So, option-(c) is the odd answer.