Application Of Managerial Accounting Concepts In Accomplishing Business Objectives

Managerial Accounting Research Paper Outline
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Managerial Accounting Research Paper
APPLICATION OF MANAGERIAL ACCOUNTING CONCEPTS IN ACCOMPLISHING BUSINESS OBJECTIVES
Table of Contents
1 Executive Summary (includes a THESIS statement)
2 The Role of Managerial Accounting in Planning and Control
3 Cost of Goods Manufactured an Statement of Income for Utility of Variance Analysis Effects on Managerial Decision Making
4 Ways Managerial Accounting Systems Support Decision-making in Capital Budgeting Methods
5 Differentiate between Static and Flexible Budgets
6 Compare and Contrast Costing, Cash flow, and Ratios Analysis in Managerial Decision-making
7 Variable Cost Methods, Allocation of Fixed Costs, Appropriate Relevant Costs in Decision Making
8 Break-even Points, Contribution Margins, and Cost Volume Pricing Analysis
9 Organizational and Financial Elements of a Successful Budgeting Process
10 Conclusion
References
Managerial Accounting Research Paper
Executive Summary
Managerial accounting focuses on accounting personnel who make key decisions within an organization including executives, product managers, and sales managers. While this is the case, financial accounting is charged with availing financial information for external use by parties like shareholders and creditors who need to use the accounting information which is typically not detailed. Managerial accounting makes detailed financial projections for the organization’s various segments and includes information such as product profitability in the form of nonfinancial measures. External reporting rules are replaced y internal specifications to enable good decision making.
Management accounting techniques address a specific purpose and may address weaknesses such as the lack of integrated budgeting. Therefore the management should examine specific company goals which are unattainable without using other methods. However some approaches have beneficial tools that can be used across the organization without incurring extra costs. Adopting of these management techniques is slow and inconsistent with their application creating confusion.
The management landscape has many methods which managers need guidance about, making it difficult to know which method works best and what managers require is a general understanding of which model works best in incorporating accounting and financial information which is essential for their job performance. This paper explores various ways in which management accounting is useful in accomplishing business objectives.
The Role of Managerial Accounting in Planning and Control
Accounting aims to communicate financial information that allows users to make decisions. It embodies the segment of accounts that manages this same information for internal financial concerns that pertain to information requirements for external users like customers and other stakeholders enabling management to make decisions which are financially viable and cost effective (Emmanuel et al., 1990). The information preferred upon management is useful in formulating progressive plans for the organization. The various ways in which management accounting is...