Managerial accounting focuses on providing information for internal users, such as managers, to make decisions, plan for the future, and control operations. A capital budget is a forward-looking plan that details the firm's decisions regarding long-term investments in assets like machinery and facilities. This planning and decision-making process is a core function of managerial accounting, distinguishing it from financial accounting, which is primarily historical and for external reporting.

B. The balance sheet is a key financial statement for external stakeholders, summarizing a company's financial position at a specific time. It is a product of financial accounting.

C. The statement of cash flows is a standardized financial report for external users, detailing cash movements over a period. This falls under the domain of financial accounting.

D. Total liabilities as of June 1 is a specific data point found on the balance sheet. It is a historical figure reported according to financial accounting principles.

1. Garrison, R. H., Noreen, E. W., & Brewer, P. C. (2021). Managerial Accounting (17th ed.). McGraw-Hill Education. In Chapter 1, "Managerial Accounting: An Overview," the text distinguishes between financial and managerial accounting, identifying planning (which includes budgeting) as a primary responsibility of managers that relies on managerial accounting information.

2. Walther, L. M., & Skousen, C. J. (2009). Managerial and Cost Accounting. Bookboon.com. In Chapter 1, "Managerial Accounting," it is stated that "managerial accounting information is aimed at internal users" and covers activities like "planning, controlling, and decision making," with budgeting cited as a key tool (p. 10).

3. MIT OpenCourseWare. (2004). 15.511 Financial Accounting, Fall 2004. Lecture Notes, Lecture 1: Introduction to Financial Accounting. The notes differentiate the two fields, stating financial accounting produces the balance sheet and statement of cash flows for external parties, whereas managerial accounting provides internal reports like budgets for decision-making (pp. 4-5).