FINAL - Phase 1 - Accounting in the Organization Claudia...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Phase 1 - Accounting in the Organization Claudia Pelaez Colorado Technical University Online ACC350-0904A-02 : Managerial Accounting Practices . Instructor: Jacob Gordon October 9, 2009 Management accounting is the fact of providing information needed inside an organization to sustain internal decision making and to help managers and executives to make decisions that most of the times will help the company to achieve their goals and objectives, to improve productivity, to increase profits as well as to reduce costs. By the correct and proper use of such information, managers are able to take several decisions used mainly for the benefit and improvement of the company. The information managerial accounting accumulates is applied to make decisions affecting current operations and for future planning, budget creation and control (Atkinson, et al.). Managerial accounting uses quantitative and qualitative data. One of the differences with financial accounting is that the managerial accounting generates
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
reports whenever they need to take an important decision, they do not have a specific date to produce any type of report. Managerial accounting reports are produced or emitted by the time decision making needs to be taken. Those reports used to entail the different departments within the organization, their different processes, and their different products or services offered by the company. Some of the reports used by this department are: Customer satisfaction report, product quality report and comparison of competing products report. The reports used by the financial accounting most of the times are constant, such as on a monthly, quarterly or annual basis. The most common reports used by this department are: sales reports, profits reports, return on sales reports, etc. What is cost?
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 6

FINAL - Phase 1 - Accounting in the Organization Claudia...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online