acct221 495945

Complete the following comparison table between managerial and financial accounting.

	Financial Accounting	Managerial Accounting
Primary users	No Independent AuditsInternal UsersInternal ReportsSpecial-purpose for a Specific DecisionsRelevant to DecisionsQuarterly and AnnuallyAs Frequently as NeededGeneral-purposeGenerally Accepted Accounting PrinciplesExternal UsersFinancial StatementsAnnual Audit by Certified Public Accountant Don't use plagiarized sources. Get Your Custom Essay on acct221 495945 For $10/Page 0nly Order Essay	Quarterly and AnnuallyFinancial StatementsInternal ReportsRelevant to DecisionsExternal UsersAs Frequently as NeededInternal UsersGeneral-purposeGenerally Accepted Accounting PrinciplesSpecial-purpose for a Specific DecisionsAnnual Audit by Certified Public AccountantNo Independent Audits

Types of reports	General-purposeExternal UsersAnnual Audit by Certified Public AccountantInternal UsersQuarterly and AnnuallyAs Frequently as NeededInternal ReportsSpecial-purpose for a Specific DecisionsNo Independent AuditsGenerally Accepted Accounting PrinciplesRelevant to DecisionsFinancial Statements	Quarterly and AnnuallyInternal UsersSpecial-purpose for a Specific DecisionsGeneral-purposeGenerally Accepted Accounting PrinciplesInternal ReportsAs Frequently as NeededRelevant to DecisionsNo Independent AuditsExternal UsersAnnual Audit by Certified Public AccountantFinancial Statements

Frequency of reports	Annual Audit by Certified Public AccountantAs Frequently as NeededFinancial StatementsGenerally Accepted Accounting PrinciplesInternal UsersQuarterly and AnnuallyGeneral-purposeInternal ReportsExternal UsersSpecial-purpose for a Specific DecisionsRelevant to DecisionsNo Independent Audits	General-purposeFinancial StatementsSpecial-purpose for a Specific DecisionsGenerally Accepted Accounting PrinciplesQuarterly and AnnuallyAnnual Audit by Certified Public AccountantRelevant to DecisionsNo Independent AuditsInternal UsersInternal ReportsAs Frequently as NeededExternal Users

Purpose of reports	Internal UsersAs Frequently as NeededGeneral-purposeAnnual Audit by Certified Public AccountantInternal ReportsSpecial-purpose for a Specific DecisionsRelevant to DecisionsNo Independent AuditsQuarterly and AnnuallyGenerally Accepted Accounting PrinciplesExternal UsersFinancial Statements	Relevant to DecisionsInternal UsersExternal UsersFinancial StatementsGeneral-purposeAs Frequently as NeededNo Independent AuditsGenerally Accepted Accounting PrinciplesAnnual Audit by Certified Public AccountantSpecial-purpose for a Specific DecisionsInternal ReportsQuarterly and Annually

Content of reports	Relevant to DecisionsInternal ReportsGenerally Accepted Accounting PrinciplesAs Frequently as NeededSpecial-purpose for a Specific DecisionsNo Independent AuditsExternal UsersInternal UsersFinancial StatementsQuarterly and AnnuallyAnnual Audit by Certified Public AccountantGeneral-purpose	Relevant to DecisionsGenerally Accepted Accounting PrinciplesFinancial StatementsAnnual Audit by Certified Public AccountantGeneral-purposeQuarterly and AnnuallyNo Independent AuditsInternal UsersInternal ReportsAs Frequently as NeededSpecial-purpose for a Specific DecisionsExternal Users

Verification	Internal ReportsGeneral-purposeGenerally Accepted Accounting PrinciplesAs Frequently as NeededInternal UsersQuarterly and AnnuallyAnnual Audit by Certified Public AccountantNo Independent AuditsFinancial StatementsSpecial-purpose for a Specific DecisionsExternal UsersRelevant to Decisions	As Frequently as NeededExternal UsersInternal ReportsGeneral-purposeGenerally Accepted Accounting PrinciplesNo Independent AuditsFinancial StatementsSpecial-purpose for a Specific DecisionsAnnual Audit by Certified Public AccountantQuarterly and AnnuallyRelevant to DecisionsInternal Users