Due to varying business characteristics, the managerial accounting techniques applied in each business may differ. For example, a business in the start-up phase may rely heavily upon budgeting and capital investment techniques; whereas, a business in the mature/maintaining phase may rely heavily upon cost management and quality control. Ultimately, the techniques used by management should assist the business in achieving its short-term and long-term goals through effective decision-making.
Analyze the role of managerial accounting in two parts. Part I will provide a general overview of managerial accounting. Part II will provide examples of how managerial accounting theories and principles are applied in the business world. reflect upon your own professional experiences for examples.
Define managerial accounting
Describe the role of managerial accounting and the management accountant in a business or organization
Describes ethical issues/concerns for the management accountant
Describes at least three managerial accounting techniques available and their application within a business or organization
Part II (Four to six double-spaced pages, excluding the title and reference pages)
Select at least three of the five topics identified below:
Cost Management Techniques
Costing Methods
Capital Investment Decision Techniques
Budgeting
Quality Control
For each topic selected, present re
Sample Solution
