Damon is the CEO of a small accounting firm. He needs a managerial accountant and a financial accountant. He has come up with a list of tasks that should be performed by the managerial accountant and financial accountant. From the list of tasks given below, you have to identify what tasks a managerial accountant would handle and explain those tasks in detail in your assessment.
- Preparing cash flow statements
- Income statement reporting
- Calculating changes in stockholder equity
- Preparing taxes for the organization