Managerial Accounting - Class 1
Managerial Accounting - Class 1
Managerial Accounting - Class 1
e
to
The Course
on
Managerial Accounting
(ACC 412)
Work of Management
Planning
Directing and
Motivating
Controlling
Decisio
n
Making
Measuring
Performance
(Controlling)
Begin
Implementing
the Plans
(Directing and
Motivating)
Objectives of Management
Accounting
The basic objective of management
7. Reporting to
3. Budgeting and
Management
8. Internal Audit and Tax
Accounting
9. Methods of Procedures
Forecasting
4. Inventory Control
5. Statistical Method
Financial accounting
provides information
to stockholders,
creditors and others
who are outside
the organization.
incurred
Analyzing costs that will change as the result of a
business decision
Evaluating the need for capital expenditures
Building a budget model that forecasts changes in
costs based on expected activity levels
Determining whether costs can be reduced
Providing cost reports to management, so they can
better operate the business
Participating in the calculation of costs that will be
required to manufacture a new product design
Analyzing the system of production to understand
where bottlenecks are positioned, and how they
impact the throughput generated by the entire
manufacturing system.
Basis of
comparison
Cost accounting
Management
accounting
Meaning
The recording,
classifying and
summarising of cost
data of an
organisation is known
as cost accounting.
Information
Type
Quantitative.
Quantitative and
Qualitative.
Objective
Ascertainment of cost
of production.
Providing information to
managers to set goals
and forecast strategies.
Scope
Specific
Procedure
Yes
No
Recording