Essay Examples on Piedmont Community College

Management accounting is the identification Analysis

Management accounting is the identification analysis reporting and presentation of financial information internally used by management to plan decide and control The goal of management accounting in the organization is to support competitive decision making through collecting recycling and communicating which helps businesses plan monitor and evaluate business processes and corporate strategies Management accounting is not going to end Also it is the tool to help the objective of the organizations It is the term used to describe methods systems and accounting techniques that together with special knowledge and capacity and its task of maximizing or minimizing losses The management report is designed to provide useful information and reports to internal users such as managers and entrepreneurs who can monitor and plan their business activities Earlier time the organization move in to different type of businesses That are manufacturing organization and Service provided business Earlier the use labor hours to calculate the costs They have very little amount of indirect cost Indirect cost mean whatever the cost which are not directly related to the main operation During this period many companies have focused on the cost related expenditure assessment and the total cost allocation Some accounting methods that were developed for cost estimation were the first LIFO and the first one FIFO The need for cost accounting came about as a result of the industrial production in the nineteenth century as corporations made great investments in factories natural resources and equipment In that period managerial accounting was mainly accounting for expenses When consider about the Evolution of Management

2 pages | 516 words