Management Accounting Principles Quiz

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5 Questions

What is the main purpose of management accounting?

Assisting managers in decision-making with financial and non-financial information

How does management accounting differ from financial accounting?

Management accounting focuses on internal decision-making, while financial accounting focuses on external reporting

What is another term for management accounting?

Cost Accounting

What type of information does management accounting provide to directors within an organization?

Financial and non-financial decision-making information

According to the Institute of Management Accountants (IMA), what is management accounting?

A profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy

Test your knowledge of management accounting with this quiz. Explore key concepts and principles used by managers to make informed decisions and improve organizational performance.

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