Which of the following statements about managerial accounting is false? Financial accounting is based on reliable,...
Which of the following statements about managerial accounting is false?
Financial accounting is based on reliable, historical information, while managerial accounting is based on relevant, forward-looking information.
The Chief Operating Officer is responsible for managing financial risk within an organization, and both the Treasurer and the Controller typically report up to the COO.
Managerial accounting is focused on reporting the results of segments within a business, while financial reporting is focused on reporting the results of the consolidated company as a whole.
External auditors are used to verify the reliability of financial information to the investing public.
Homework Answers
The following statements is false
1.The Chief Operating Officer is responsible for managing financial risk within an organization, and both the Treasurer and the Controller typically report up to the COO.
Reason: The Cheif operating officer is one of the Executive officer who check the operations of the bussiness are done in a efficient & effective way.
The Cheif operating officer is not resposible to the financial risk, he is resposible for the output of the products weather acheived in a efficent manner
The COO reports directly to the CFO
The Tresurer & Controller deals with the financing of the company & reports directly the details of the company to the CFO & not to the COO
2.External auditors are used to verify the reliability of financial information to the investing public.
The External Auditors not only verify the reliabilty of information but also check weather the company management is adhering the policies & procedures laid. and provide the opinion to all the users of the financial statements about the company
they also investigate if the frauds in the company.
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Which of the following statements about managerial accounting is
false?
Financial accounting is based on reliable,...
Which of the following statements about managerial accounting is false? Financial accounting is based on reliable,...
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Which of the following statements about managerial accounting is false? Managerial accounting is based on reliable,...
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1. Managerial accounting focuses on providing historical financial information to outside users including shareholders and creditors.
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-- - - - The Company's management is responsible for establishing and maintaining adequate internal control...
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wie system. partially completed units in Partially completed unit Inventory 13 Match each of the following...
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A manager at Starbucks is comparing this month's sales of frapper's against the budget to determine why fewer drinks were sold the planned. This is an example of the management function of Controlling Decision-making Planning O Evaluating O Which of the following statements about managerial accounting is false? Managerial accounting is based on reliable, historical information, while financial accounting is based on relevant, forward-looking information External auditors are used to verify the reliability of financial information to the investing public...
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