W.3 TA3 Managerial Accounting

What is managerial accounting primarily focused on?

• External decision-making

• Preparing tax reports

• Internal decision-making

Who primarily benefits from managerial accounting?

• Managers

• Shareholders

• Government agencies

What is the main difference between managerial and financial accounting?

• Managerial accounting is for external users, financial is for internal users.

• Financial accounting is for external users, managerial is for internal users.

• Both are for external users.

Is managerial accounting regulated by external groups?

• No

• Yes

• Sometimes

What kind of decisions does managerial accounting aim to improve?

• Marketing decisions

• Informed internal decisions

• Investment decisions

What is a benefit of managerial accounting for managers?

• Helps them evade taxes

• Helps them attract investors

• Helps them solve problems easier

What kind of data does managerial accounting gather?

• Sales data only

• Different types of costs and data

• External financial data

What is one key activity managers do with managerial accounting information?

• File taxes

• Plan for the future

• Report to shareholders

How does better planning improve control?

• By predicting future operations more effectively

• By focusing on external operations

• By increasing shareholder profits

What is the ultimate goal of managerial accounting?

• To comply with legal regulations

• To make better internal decisions

• To impress investors