Chpt1 Introduction

No required format with some exceptions different

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Unformatted text preview: ost of collecting it. • No required format (with some exceptions) – different approaches can be used depending on the particular decision a manager faces • Primarily uses data related to current costs or estimates of future costs • Prepared mainly for internal users in making marketing, production, investment decisions 2 Financial vs. Managerial Accounting Objective: • Internal Users – managers at all level ll • External Users – investors/creditors Process: • GAAP, Law, Audit. A rigid process • Flexible, not audited. Based on Theory/lo...
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