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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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    https://brainmass.com/business/financial-accounting-bookkeeping/flexibility-hallmark-modern-management-396636

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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 ...

    Solution Summary

    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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