1. Abstract Accounting
... so did the need for periodic audited financial statements. Management accounting, accordingly, evolved mainly to support these external reporting requirements. Auditors became less interested in the relevance of product cost information for management decisions than for its impact on reported profits. Financial reports were "...too late, too aggregated, and too distorted to be relevant for managers' ... "As product life cycles shortened, and as more cost must be incurred before production begins [e.g., R&D], ... traditional financial measures such as periodic earnings and accounting ROI b...
- Word Count: 5316
- Approx Pages: 21
- Has Bibliography
- Grade Level: Undergraduate