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CM
A
Presentation Outline
I. Goal of Managerial Accounting
II. Comparison of Managerial and Financial
Accounting
I. Goal of Managerial Accounting
The goal of managerial accounting is to
provide information that managers need
for:
A. Planning
B. Control
C. Decision Making
A. Planning
Decisions to Comparison of
reward or punish planned and actual
managers results
Evaluation
Realizing this contribution can only happen when we fully apply advanced
management accounting, risk management, effective costing and revenue
management.
Financial Management Transformation
Operator
Operator Steward
Steward Strategist
Strategist Catalyst
Catalyst
Risk Management
Value-
Strategic
Standards Compliance Valued-added
Advice Focus
for-
Money
Effective Communication
Performance Management
GAAP only
C. The Level of Detail
Managerial Accounting Financial Accounting
Managers need detailed External users of
information to plan, information are often
control, and make satisfied with more
decisions about different summarized
organizational areas. information.
D. The Emphasis on
Nonmonetary Information
Managerial Accounting Financial Accounting
Monetary information is Primarily includes
supplemented with information regarding
additional detail such as assets, liabilities,
quantity of materials used, equity, revenues,
number of labor hours, etc. expenses, and cash
flows.
E. The Time Frame of Focus
Managerial Accounting Financial Accounting
Uses past performance to Primarily presents the
the extent it is useful results of past
in making predictions transactions.
about the future.