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8 Cards in this Set

  • Front
  • Back
Management Accounting
procces of identification, measurement, accumulation, analysis, preparation, interpreation, and communication of financial information used by management to plan, evaluate and control an organization
cost accounting
deals with procedures related to determining the cost of a particular product, service, or activity
Internal Business Operations
marketing managers, salespersons, production managers, production supervisors, strategic planners, company planners, company engineers
External Business Operations
Stockholers, banks and other lending agencies, bondholders, suppliers, customers, competitors
Financial Accoutings Focus
Profitability, solvency, liquidity
Management Accounting Focus
Efficiency productivity and quality
Management Accouting is based primarily on:
decision making and these decisions affect the future of the firm
the chief accountant primarily in charge of the accounting system