Question

Format of management accounting reports is tailor made as per requirements of management.
True
False

Answer 1

format of management accounting reports is tailor made as per requirement of management

Ans: False

Answer 2

The above-given sentence is False.

• Accounting reports show a company's current or previous financial situation.
• These reports compile financial data from accounting records, including transactions, operating costs, product profitability, and geography sales.
• Managers need these reports to make informed business decisions.
• Businesses that employ management accounting services can get data faster, which helps managers guide the company to its objectives.