What role do management accounting principles and practices play in assisting managers in solving real-world company problems?
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What role do management accounting principles and practices play in assisting managers in solving real-world company problems?
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- Q1_ You are working as a manager in the company and suddenly you are appointed in the strategic management unit. Your boss asked you to develop key strategies for future growth and improving costing system. As a manager explain THREE (3) points on why accounting is essential for managers.Quickly What role do management accounting principles and practices play in assisting managers in solving real-world company problems?ASAP pls What role do management accounting principles and practices play in assisting managers in solving real-world company problems?
- ASAP What role do management accounting principles and practices play in assisting managers in solving real-world company problems?How have the jobs of management accountants changed in the last 10 years? How has information technology changes managerial accounting during these last 10 years? 1. Prepare a "then-versus-now" comparison.Write an essay covering the following points; 1)Characteristics of management accounting 2)The role of management accountant in the company 3)How can management accounting benefit to the company?
- 1.) Discuss the difference between managerial accounting and financial accounting and their impact to Information Technology industry. 2.) You are the CEO of your own IT Company. Based on the cost concepts that we have discussed, identify at least three (3) costs being used and provide possible solutions how to control these costs. 3.) Being in an IT Field, you know the importance of optimizing your processes to see growth through efficiency. How can financial statement analysis contribute? 4.) Accounting is the language of business. Using this context, discuss the importance of financial statement to businesses.Explain how the Strategic Management Process is applied in business. Please answer in less than 400 wordsWhat were some interesting management accounting concepts that came up this week? At this point, do you see the management accounting approach being more or less useful than financial accounting for you? Why?
- Now, consider emerging trends in business today. How should the discipline of managerial accounting evolve to meet the changing needs of organizations? Be specific. Suggest specific accounting information needs that you feel managers have in the current business environment.Q: How do managers use accounting in day-to-day operations? How have you used accounting in your work? Where are all the places in a business firm that accountants could work? (Think of all major areas in a large firm) How can knowing more about accounting help you be a better manager?Assume that you work for a Fortune 500 level company at corporate headquarters. Due to your excellent performance and the fact that the CEO of your firm noticed that you had listed on your resume' that you had taken a graduate-level Management Accounting course from a reputable institution, the CEO has sent you an email containing a request that you respond to two very important questions. The CEO needs your answers within a relatively short time frame of making the request. The questions are: #1. What criteria should the operating units (i.e. producing segments of the firm) use when deciding whether to use job-order costing or process costing approaches for costing the products they produce? #2. For costs that cannot be traced, what tests should a cost allocation basis (not the cost allocation method) meet before that cost allocation basis (direct labor hours, machine hours, direct labor cost, etc.) can be used to allocate costs in the organization?