colin was a manager for EST corporation, and the company wanted to expand into a new region. Colin analyzed data to determine how much money the company could make from the expansion within two years. Which responsibility of financial management below did Colin demonstrate?

23 The EST Corporation, where Colin worked as a manager, desired to grow into a new area. In order to calculate how much money the company could gain from the expansion within two years, Colin conducted data analysis. Which of the following financial management responsibilities did Colin exhibit? The income statement was prepared for examination by outside users after being evaluated for market trends, immediate cash flow problems from various divisions, and short-term financing choices for the expansion.Maximizing profit and minimising losses is the main goal of managerial accounting. It is concerned with how data is presented so that financial discrepancies may be predicted and managers can make critical decisions.

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