Student’s Name Instructor’s Name Course Date Managerial Accounting Introduction Managerial accounting encompasses the utilization of accounting information for efficient achievement of organizational objectives (Eker Melek & Alp Aytaç 83). Information on the costs of goods and services to be produced or acquired by a company is highly utilized by managerial accountants for budgetary decisions and efficient capital allocation within an organization. This information is useful because it helps to identify any possible deviations from the actual budget. Roles of managerial accounting One of the roles is capital budgeting which involves the decision to allocate cash for various processes including production purchases or enterprise investments (Garrison et al 972). It requires the determination of the expected rate of return on each capital investment. Managerial accountants would be faced with the decision on appropriate enterprise selection before allocating finances for its commencement. This would require scrutiny of various proposals to determine the to Small Business: Dynamic Impacts on Local Credit and Labor Markets. Harvard University Working paper 2017. Dow James Itay Goldstein and Alexander Guembel. "Incentives for information production in markets where prices affect real investment." Journal of the European Economic Association (2017): jvw023. Eijdenberg Emiel L. et al. "Decision-making and small business growth in Burundi." Journal of Entrepreneurship in Emerging Economies 9.1 (2017): 35-64. Eker Melek and Alp Aytaç. "The Role of ERP in Advanced Managerial Accounting Techniques: A Conceptual Framework 1." Business and Economics Research Journal 8.1 (2017): 83. Garrison Ray H. et al. "Managerial accounting." Issues in Accounting Education 25.4 (2010): 792-793. Koranteng Eugene Oware et al. "The Effects of Compliance and Growth Opinions on SMEs Compliance Decisions: An Empirical Evidence from Ghana." Open Journal of Business and Management 5.02 (2017): 230. Sørensen Peter Birch. "Taxation and the optimal constraint on corporate debt finance: why a comprehensive business income tax is suboptimal." International Tax and Public Finance 24.5 (2017): 731-753. [...]
1. Describe the role of managerial accounting in contemporary business, 2. Provide one specific, real-life example of how managerial accounting helps managers improve operational and financial performance. 3. Also, describe the role of federal taxes, the state of the economy, and financial markets outlook plays in short term business decisions.