Exercise 1-1A Identifying financial versus managerial accounting items Requi

Exercise 1-1A Identifying financial versus managerial accounting items

Required

Indicate whether each of the following items is representative of managerial or of financial accounting.

a. Information includes economic and nonfinancial data as well as financial data.

b. Information is global and pertains to the company as a whole.

c. Information is provided to insiders including executives managers and operators.

d. Information is factual and is characterized by objectivity reliability consistency and accuracy.

e. Information is reported continuously and has a current or future orientation.

f. Information is provided to outsiders including investors creditors government agencies analysts and reporters.

g. Information is regulated by the SEC FASB and other sources of GAAP.

h. Information is based on estimates that are bounded by relevance and timeliness.

i. Information is historically based and usually reported annually.

j. Information is local and pertains to subunits of the organization.