ACC206Week2DQ2TheRoleofManagementAccounting:Planning,Strategy,andDecision-MakingACC206Week2DQ2RoleofManagementAccountingReviewtherolesofmanagementaccountingwithinacompany.Whatisthemostimportantroleofmanagementaccounting?Howisthatdifferentthanfinancialaccounting?GuidedResponse:Reviewyourpeer'sresponsees.Respondtoatleasttwoofyourpeers,addingatleasttwoadditionalareasthatmanagementaccountantsfocusonthattheauthordidn'tinclude.|thinkthatthemostimportantroleofmanagerialaccountingisplanning.Thereissomuchplanningthatisrequiredinordertogetabusinessgoing,andtokeepitgoingsuccessfully.Abusinessmayhavebigplansonhowtochangethecompany,butnothavethefundstodoit.That'stheroleofthemanagerialaccountant;theyknowthefinancialsideofthebusiness.AccordingtoPrincipalsofAccounting:Volume11,"Somebusinessesrefertotheirmanagerialaccountingunitsasdepartmentsofstrategicfinance.Thesedepartmentsarenotonlyconcernedwithbudgetsandthelikebutalsoengageinactivitiessuchasmonitoringandreportingonlegislativecompliance,environmentalcontrols,trackingofhazardoussvinntaaffininnmctndinnAnartinnalanginaaringsunlitasatealandonfarthArananncasthe1VvT=StudyXYACC 206 Week 2 DQ2 The Role of Management Accounting: Planning, Strategy, and Decision-Making
A discussion on the role of management accounting in planning, strategy, and decision-making.
David Rodriguez
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