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MA Chapter 1 Questions Accounting for Management

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  1. Sir, I’m really inspired by the questions..I went wrong with 2 questions and I learned from my mistakes.. I actually don’t have any background in business or accounting subjects..I don’t know any basics but your videos helped me a lot. Thanks

  2. Hi John,

    For the first question,I understand that choose a statement which goes both for Financial management and Management accounting and according to me neither of the statement goes because Financial acc only goes for external and Management accounting is not a part of a financial accounting and does not deal with balance sheet.

    Please make me understand the question.

    • Financial management is not relevant to this question (and is not examined until Paper FM).

      Financial accounts are used both internally and externally, but are mainly used by external users (e.g. shareholders).

      Management accounts are only used internally by management to help them make decision.

      This is all explained in the free lectures working through the first chapter of our lecture notes.

  3. @John Moffat, sir in the first question the main users of financial accounting is mentioned to be external, but financial statements are used by internal users as well. So aren’t both the main users of financial accounting?

    • No. Internal users are much less likely to use financial accounting information, they make much more use of management accounting information. Management accounting information is produced specifically for use internally and is not available to external users.

    • You have to buy it!! It is not the ACCA who produce it – it is the ACCA Approved Publishers who are BPP and Kaplan.

      Depending on where you live you might find it in bookstores. Otherwise you can buy either hard copies or soft (i.e. email) copies online from their website. If you choose BPP then you can get a 20% discount because you use OpenTuition by clicking on the advert that appears on most of our pages 馃檪

  13. Thank you so much for these fantastic resources, they are really appreciated. I am an ICB bookkeeper starting on my ACCA journey so never studied management accounting, background is all in financial statements. So easy to follow and understand. Love the lectures that go alongside the notes!

  19. Am about to purchase a revision question kit, is BPP or Kaplan the better or does any user here have a preference. Which one would have questions most similar to ACCA exam?

    • Well done (but do make sure that you have a Revision Kit from one of the ACCA approved publishers because they contain lots of exam standard questions for practice, and practice is vital to passing the exam 馃檪 )

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