Answered: Understand how management accountants…

Business

Accounting

Understand how management accountants help firms make strategic decisions

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 4Q: Explain how managerial accountants help managers plan, control, and evaluate.

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Question

Understand how management accountants help firms make strategic decisions

Expert Solution

Step 1

Management Accounting:

Management accounting is a branch of accounting which is aimed at providing managers with financial information in the form of reports for better decision making process.

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Explain how managerial accountants help managers plan, control, and evaluate.
Managerial accounting produces information: to meet the needs of external users that is often focused on the future to meet the needs of investors that follows the rules of GAAP
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