Consider the Descriptors That Follow

question 56

Essay

Consider the descriptors that follow:
1. Is heavily involved with the record keeping and reporting of assets, liabilities, and stockholders' equity.
2. Focuses on planning, decision-making, directing, and control.
3. Is heavily regulated.
4. A field that is becoming more "cross-functional" in nature.
5. Much of the field is based on costs and benefits.
6. Is involved almost exclusively with past transactions and events.
7. Much of the information provided is directed toward stockholders, financial analysts, creditors, and other external parties.
8. Tends to focus more on subunits within an entity rather than the organization as a whole.
9. May become involved with measures of customer satisfaction, and the amount of actual cost incurred vs. budgeted targets.
10. Information produced is intended for Managers within the organization.
Required:
Determine whether the descriptors are most closely associated with financial accounting or managerial accounting.

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Definitions:

Cognitive Tactics

Mental strategies employed to solve problems, make decisions, or enhance learning and memory.

Close Relationship

A deep and significant connection between individuals characterized by emotional intensity, mutual support, and sustained interaction.

Partner's Virtues

The qualities considered good, desirable, or admirable in a mate or romantic partner.

Self-concept Discrepancies

A psychological state resulting from differences between one’s self-image and one's ideal self or the expectations of others.