Here is the synopsis of our sample research paper on THE IMPORTANCE OF MANAGEMENT ACCOUNTING IN THE DECISION-MAKING PROCESS. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 5-page paper discusses the importance of managerial accounting activities when it comes to a firm's decision-making capabilities. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: AS43_MTacctdeci.doc
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Unformatted sample text from the term paper:
a guy), wearing a green eyeshade, who is constantly surrounded by stacks of papers and who is putting figures into an adding machine (or calculator, if were upgrading the technology
of this particular vision). But accounting, especially management accounting, is more than inputting numbers and crunching them. Because of its nature, structure and purpose, management accounting is important in helping
provide specific data to help executives make future decisions. Management accounting, and the people who work in that field, are responsible for
issues such as financial planning and analysis, along with risk management, strategic costing and other form of decision-making analytics (Kranacher, 2012). To this end, accounting could be considered "an invormation
system that allows the production and dissemination of information for necessary decisions" (Topor et al, 2011; p. 319). Furthermore, managing accounting can help
executives answer a major question: Namely, how to allocate resources to achieve organizational goals (Topor et al, 2011). Given todays competitive pressures, ever-changing production/delivery processes and last but not least,
the impact of information technology management on a firms performance, senior management at companies need to be more aware of costs than ever - an understanding of those costs, in
turn, helps implement decisions (Topor et al, 2011). This can especially be important if a company relies on certain types of commodities
as raw materials to manufacture a particular product. Use of activity-based costing (ABC) helps the management accountant understand the exact cost of a particular commodity, what activity makes use of
that particular commodity, and ultimately, when comparing to other costs and the revenues generated from that particular product, whether its worth it to continue that products manufacture. A good example
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