ACCT 301 ACCT301 ACCT/301 homework 6
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ACCT 301 ACCT301 ACCT/301 homework 6
ACCT 301 Homework 6
Managerial Accouting
Managerial accounting entails analysing, planning, directing, reporting and communicating financial information to managers and internal staff.
It is tailored to specific decision making focuses on products, departments and other business activities. Managerial accounting often uses real-time data for fast answers and forecasted outcomes for planning.
In other words, managerial accounting comprises many components of accounting aimed at delivering quality information to managers about business operations.
Information related to cost and sales of goods or services drawn from cost accounting is used in managerial accounting.
Description
ACCT 301 ACCT301 ACCT/301 homework 6
ACCT 301 Homework 6
Managerial Accouting
Managerial accounting entails analysing, planning, directing, reporting and communicating financial information to managers and internal staff.
It is tailored to specific decision making focuses on products, departments and other business activities. Managerial accounting often uses real-time data for fast answers and forecasted outcomes for planning.
In other words, managerial accounting comprises many components of accounting aimed at delivering quality information to managers about business operations.
Information related to cost and sales of goods or services drawn from cost accounting is used in managerial accounting.
Cost accounting captures a company’s cost of production and allows businesses to identify any spending and maximise profits.
Difference between Managerial and Financial Accounting The significant difference between the two types of accounting is to whom it’s intended for. Managerial
ACCT 301 ACCT301 ACCT/301 homework 6
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ACCT 301 ACCT301 ACCT/301 homework 6
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