Business, 03.09.2019 17:10 kaitlynmeats

Management accounting should not fit the straitjacket of financial accounting. explain and give an example.
a. management accounting does not allow managers to charge interest on owners' capital to judge a division's performance, even though such a charge is required under gaap.
b. management accounting cannot include assets or liabilities with nicknames that are developed internally, which is allowed under gaap.
c. management accounting and financial accounting can use asset or liability measurement rules, such as present values or resale prices, whichever is more reasonable at the time.
d. management accounting does not have to comply with the same standards of financial accounting such as generally accepted accounting principles.

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Management accounting should not fit the straitjacket of financial accounting. explain and give an e...

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