Accounting Principles and Practices Quiz

The different fields of accounting include financial accounting, management accounting, tax accounting, and cost accounting.

The main purpose of accounting is to process information about economic entities and convey this information to stakeholders.

Stakeholders to whom accounting information is conveyed include investors, creditors, management, and regulators.

<p>Financial accounting focuses on reporting an organization's financial information to external users such as investors, regulators, and suppliers.</p> Signup and view all the answers

<p>Management accounting focuses on the measurement, analysis, and reporting of information for internal use by management.</p> Signup and view all the answers