OSU BA 315 Exam 2

Managerial Accounting Users

insiders, executives, managers, operators

Managerial Accounting Info Type

Economic and physical data as well as financial data

Managerial Accounting Level of aggregation

Local information on subunits of the organization

Managerial Accounting Regulation

no regulation, limited only by the value-added principle

Managerial Accounting Info Characteristics

Estimates that promote relevance and enable timeliness

Managerial Accounting Time Horizon

past, present, future

Managerial Accounting Reporting frequency

continuous reporting

Financial Accounting Users

outsiders, including investors, creditors, government agencies, analysts, and reporters

Financial Accounting Info Type

Financial data

Financial Accounting Level of Aggregation

global information on the company as a whole

Financial Accounting Regulation

Regulation by SEC, FASB, and other determiners of GAAP

Financial Accounting Info Characteristics

Factual information that is characterized by objectivity, reliability, consistency, and accuracy

Financial Accounting Time horizon

past only, historically based

Financial Accounting Reporting frequency

delayed, with emphasis on annual reports