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Data used in financial accounts and management accounts

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Data used in financial accounts and management accounts

  • This topic has 1 reply, 2 voices, and was last updated 4 months ago by John Moffat.
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  • February 26, 2022 at 8:35 am #649361
    saleel123
    • Topics: 1
    • Replies: 1
    • ☆

    Which of the following statements is/are correct?

    (i) Information for decision-making should incorporate uncertainty in some way.
    (ii) The data used to prepare financial accounts and management accounts are the same.

    (i) is true and (ii) is false
    (ii) is true and (i) is false
    Both are true
    Both are false

    The answer given is C. I dont understand the second statement.
    Wouldn’t management accounts also include non financial information?

    February 26, 2022 at 11:06 am #649378
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49598
    • ☆☆☆☆☆

    The same data is being used for both, but that does not mean that all of the data available is being used for both.

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