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Role of Managerial Accounting in Contemporary Business (Example)

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Student’s Name Instructor’s Name Course Date Managerial Accounting In an organizational setting managerial accounting is a necessary branch of accounting that deals with the allocation of resources effectively for meeting a particular goal. This type of accounting focuses efforts in trying to make amicable decisions that will determine the position of an organization in a business environment (Walther & Skousen 2009). In definition managerial accounting is a process of identifying measuring analyzing interpreting and communicating information regarding a particular goal to be pursued by the organization. Managerial accounting is also referred to as cost accounting because it involves allocation of budget for various processes in a company. Butterfield (2016) asserts that managerial accountants may be faced with decisions to set cost allocation for processes such as purchases production supply services and/or investments processes that are quantitative procedure of operations. In this there is need therefore to put to task managerial is easy and stable payback. Banks tend to be flexible in providing credit to business owners with anticipation of timely payback. Business owners on the other hand are encouraged by the ease of acquiring credit and cheap rates of interest charged on such credits. In struggling financial environments credit acquisition tends to be expensive. High rates of interest are charged and financial institutions tend to be very cautious in lending due to playback uncertainties. In such environments businesses scale down due to expensive capital investments. Reduced labor employability is a characteristic feature coupled by single business lines which kills diversification in a business environment. Works cited; Butterfield Emma. “Managerial Decision-making and Management Accounting Information” (2016). Edmonds Thomas P. et al. Fundamnetal managerial accounting concepts. McGraw-Hill Education 2016. Miller-Nobles tracie L. Brenda L. Mattison B. L. and Ella Mae Matsurmura. Hornbgren’s Financial & Managerial Accounting The Managerial Chapter. Pearson 2017. [...]

Order Description:

Need a 1,000 Minimum Essay based on the following topic, with only three external references listed therein. It must include one real-life example of how managerial accounting helps managers improve operational & financial performance. Also, it must describe the role of federal taxes, the state of the economy & indicate how the financial outlook plays in short-term business decisions.

Subject Area: Accounting

Document Type: Reports

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Project's rating is 5/5

Price $35

Words 550

Pages 2

Completed in 6 days

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