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Since external users of financial statements have no way to verify the reported information,

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Since external users of financial statements have no way to verify the reported information,

Since external users of financial statements have no way to verify the reported information,

▸ FASB provides consequences to companies who distribute false managerial accounting reports to outsiders.

▸ GAAP provides a level of protection or assurance that the reports will follow certain standards.

▸ internal reports are provided to them by management.

▸ they cannot make informed decisions from financial information.

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Managerial Accounting

Edition: 4^th

Author: Davis

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