WGU D196 Principles of Financial & Managerial Accounting SPRING EXAM QUIZ STUDY GUIDE WITH CORRECT ANSWERS
D196 Study Guide What is the role and purpose of accounting? - correct answer Accounting is used to accumulate, measure, and communicate financial information about organizations. This information is used to make informed decisions regarding resource usage and allocation. Who uses accounting information and why? - correct answer Managerial Accounting: Internal decision making (managers, CEO's, supervisors, etc.) Financial Accounting: External user benefit (stakeholders, investors, tax authorities, etc.) What are important influences on Accounting? - correct answer Development of GAAP by FASB in the U.S. and by the IASB worldwide. International business considerations, ethical considerations.
Written for
- Institution
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Western Governers University
- Course
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D196 WGU
Document information
- Uploaded on
- February 24, 2024
- Number of pages
- 5
- Written in
- 2023/2024
- Type
- Exam (elaborations)
- Contains
- Questions & answers
Subjects
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principles of financial managerial accounting
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