Question

A comparison of financial and managerial accounting should be completed and

address the following for each:
A. Stakeholder groups - be specific by identifying the end users of financial accounting and
managerial accounting

Answer 1

Financial accounting serves external stakeholders such as investors and regulators, while managerial accounting is used by internal stakeholders like company management for decision-making purposes.

Step-by-step explanation:

Comparison of Financial and Managerial Accounting

In comparing financial and managerial accounting, it is important to identify the stakeholder groups and end users for each area. Financial accounting is primarily utilized by external stakeholders such as investors, creditors, regulatory agencies, and tax authorities who need to make informed decisions about providing capital, assessing financial health, or ensuring compliance with laws and regulations. Managerial accounting, on the other hand, is used internally by a company's management team to make decisions related to budgeting, performance evaluation, cost management, and strategic planning.

Stakeholder Groups for Financial and Managerial Accounting

• End users of financial accounting include:
• 
  
• End users of managerial accounting include:
•