Decision Making with Managerial Accounting
Due to varying business characteristics, the managerial accounting techniques applied in each business may differ. For example, a business in the start-up phase may rely heavily upon budgeting and capital investment techniques; whereas, a business in the mature/maintaining phase may rely heavily upon cost management and quality control. Ultimately, the techniques used by management should assist the business in achieving its short-term and long-term goals through effective decision-making.
For your Final Paper, you will analyze the role of managerial accounting in two parts. Part I will provide a general overview of managerial accounting. Part II will provide examples of how managerial accounting theories and principles are applied in the business world. You may find it helpful to reflect upon your own professional experiences for examples.
Part I (three to four double-spaced pages, excluding the title and reference pages)
Present the following:
Define managerial accounting
Describe the role of managerial accounting and the management accountant in a business or organization
Describes ethical issues/concerns for the management accountant
Describes at least three managerial accounting techniques available and their application within a business or organization
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