What question did this study set out to answer?

The report aims to clarify the differences between management accounting concepts and those used in external reporting.

Report of the Management Accounting Committee.

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This report clarifies conceptual distinctions in accounting for management versus public reporting, highlighting implications for practice.

The report aims to clarify the differences between management accounting concepts and those used in external reporting.
Reviewed previous Management Accounting Committee reports
Studied existing literature in management accounting
Consulted with professionals in industry, public practice, and education
Identified different underlying concepts for internal management reporting and external public reporting
Established that a different framework is needed for these concepts
Highlighted the importance of a well-rounded perspective in management accounting

A 1962 study studied this question.

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This report clarifies conceptual distinctions in accounting for management versus public reporting, highlighting implications for practice.