Financial and Managerial Accounting Both Provide Useful Information,but Each Has

question 236

Essay

Financial and managerial accounting both provide useful information,but each has a different emphasis.Briefly distinguish between financial and managerial accounting as they relate to the 1)primary users,2)purpose of information,and 3)focus and time dimension of the information.

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Definitions:

Standard Deviation

A measure of the dispersion or spread of a set of values, indicating how much the values deviate from the mean of the data.

Test Statistic

A value calculated from sample data during a hypothesis test used to decide whether to reject the null hypothesis.

Standard Error

The standard deviation of the sampling distribution of a statistic, commonly the mean.

Sample Standard Deviation

A measure of the dispersion or variability of a set of sample data points.