Question

What distinguish between managerial and financial accounting as to (a) primary users of reports, (b) types and frequency of reports, and (c) the content and purpose of reports?

Answer 1

In managerial accounting, the Primary users are the Internal users like officers or managers but in Financial accounting primary users are the Shareholders, Creditors, regulators

Type and frequency of reports for managerial accounting, are Internal Reports and are frequently needed. For Financial accounting type are external reports and frequnecy is quarterly or annually

Content and Purpose of reports to make Internal decisions taken by managers and for financial accounting purpose is general