Horngren Chapter 1 Cost Accounting
Study online at https://quizlet.com/_emv8a0
1. Managerial Accounting accounting used to provide information and analyses to managers
inside the organization to assist them in decision making
based on cost benefit analysis NOT GAAP
Future oriented (budget for 2019 prepared last year)
2. Financial Accounting has a focus on the financial information that is given to external
parties:
Past oriented: reports on 2018 performance prepared in the following
year
GAAP and certified by external, independent auditors.
3. cost accounting measures, analyzes and reports financial and nonfinancial information
related to the costs of acquiring or using resources in an organization
4. financial or managerial help managers make decision to fulfill an organizations goals
accounting?
5. who are the primary managers of the organization
users in management ac-
counting?
6. who are the primary external users such as investors banks regulators and suppliers
users in financial ac-
counting?
7. Time span and type of varies from hourly to 15-20 years, financial and non-financial reports
reports-management ac- on products, departments, territories, and strategies
counting
8. Time span and type of re- annual and quarterly financial reports, primarily on the company as a
ports- financial account- whole
ing
1/4
Study online at https://quizlet.com/_emv8a0
1. Managerial Accounting accounting used to provide information and analyses to managers
inside the organization to assist them in decision making
based on cost benefit analysis NOT GAAP
Future oriented (budget for 2019 prepared last year)
2. Financial Accounting has a focus on the financial information that is given to external
parties:
Past oriented: reports on 2018 performance prepared in the following
year
GAAP and certified by external, independent auditors.
3. cost accounting measures, analyzes and reports financial and nonfinancial information
related to the costs of acquiring or using resources in an organization
4. financial or managerial help managers make decision to fulfill an organizations goals
accounting?
5. who are the primary managers of the organization
users in management ac-
counting?
6. who are the primary external users such as investors banks regulators and suppliers
users in financial ac-
counting?
7. Time span and type of varies from hourly to 15-20 years, financial and non-financial reports
reports-management ac- on products, departments, territories, and strategies
counting
8. Time span and type of re- annual and quarterly financial reports, primarily on the company as a
ports- financial account- whole
ing
1/4
