Q1RQ - Horngren'S Financial And Managerial Accounting

Question

1. What is the primary purpose of managerial accounting?

Step-by-Step Solution

Answer

Managerial accounting is a field of accounting that has the purpose of providing information to managers and employees.

Step 1: Definition of managerial accounting

Managerial accounting is defined as the field of accounting which focus on providing information for internal decision-makers.

Step 2: Purpose of marginal accounting

Managerial accounting has the main purpose of providing the relevant information to the managers and employees to plan, direct, and control operations.