Managerial Accounting

In: Business and Management

Submitted By Tsanders0515
Words 621
Pages 3
Running head: Phase 1 Individual Project

Phase 1 Individual Project
Theoda Sanders Jr.
ACC350-1204B-01
Managerial Accounting Practices
Instructor: Alice Sineath
26 November 2012

The functional goal of managerial accounting should be and is for business managers to a very clear snapshot picture of a company or business financial and statistical information. In turn this enables them to be more inform on how to properly do their job. The accounting system is the major information system in almost every company and it should provide information to three detrimental areas for varies important usage: 1. Internal reporting in which a manager uses to plan and control a company daily business functions.

2. Secondly, internal reporting helps to create future planning of different policies for a company

3. External reporting to all stock investors of the company, government, some interested outside entities, tax collecting or all used to make business decisions by people that are investors in the company. Accounting is the heart of any company and make or break it. Today the cost to be the boss or should correctly say cost analysis for business or company successful operation is called the management accounting. It covers the information of the company and what’s the accountant role is. The person that really governs the manager’s precise decision making is a management accountant. Their job is to breakdown and put together the reasoning behind the information that the managers are requesting, and ensures that it is of value to the company success. Management needs this information to enable them to plan the progress of the company, control the activities, and see the financial implications of any decisions they may take. Truthfully speaking, the real deal maker of a company or business decisions deals with the cost…...

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