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Flexibility is said to be the hallmark of modern management

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Flexibility is said to be the hallmark of modern management accounting, whereas standardization and consistency describe financial accounting. Explain why the focus of these two accounting systems differs.

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Flexibility is said to be the hallmark of modern management accounting, whereas standardization and consistency describe financial accounting. The solution explains why the focus of these two accounting systems differs.

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Flexibility is said to be the hallmark of modern management accounting, whereas standardization and consistency describe financial accounting. Explain why the focus of these two accounting systems differs.

Answer:

The two systems differ for several reasons. Management accounting centers its focus on flexibility, and how managers use accounting information to make decisions for the organization. The flexibility in ...

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