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In a one- to two-page essay, consider the function of managerial accounting within a firm. Describe...

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Accounting

In a one- to two-page essay, consider the function of managerialaccounting within a firm. Describe the purpose and scope ofmanagerial accounting. Within the analysis explain how managers usethe internal financial data to better manage the daily operationsof a company.

  • Be sure to provide an overview of managerial accounting anddifferentiate between managerial accounting and financialaccounting.
  • Conclude your essay with how internal and external stakeholdersuse financial data from both a financial accounting and managerialaccounting perspective.
  • Consider how the concept of managerial accounting and aChristian worldview might work together.
  • Provide at least one scholarly source.

Answer & Explanation Solved by verified expert
3.9 Ratings (761 Votes)
Scope of Management Accounting The main concern of management accounting is to provide necessary quantitative and qualitative information to the management for planning and control For this purpose it draws out information from accounting as well as nonaccounting sources Hence its scope is quite vast and it includes within its fold almost all aspects of business operations However the following areas may rightly be pointed out as lying within the scope of management accounting i Financial Accounting The major function of management accounting is the rearrangement or modification of data Financial accounting provides the very basis for such a    See Answer
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