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However, management accountants sometimes view such standards as inappropriate restraints on flexibility, resulting in tension between the focus and purposes of management accounting and those of financial reporting. Some of the common financial management concerns facing companies include: 1. whether changes in accounting standards are actually needed, 2...
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whether changes in accounting standards are actually needed, 2. how fast such changes should be implemented, 3. whether standards reflect
MFAR 4
economic reality, and 4. what the economic consequences of those changes will be. In setting standards, the Financial Accounting Standards Board tries to be sensitive to corporations' internal information needs by seeking comments and suggestions from corporate executives...
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