describe managerial accounting and the role of managerial accounting in business.

Expert Solution

Managerial accounting is also known as cost accounting is the process of identifying ,measuring, analysing, interpreting the information to the managers to take appropriate decisions and to achieve organisation goals.

the main difference between managerial accounting and financial accounting is managerial accounting provides information to the people inside the organisation to make appropriate decisions but financial accounting provides information both the people of inside the organisation and outside the organisation.

The role of managerial accounting is very high while taking decisions within the organisation. In some situations managerial accounting provides very crucial information rather than financial accounting for taking on the time decisions regarding performance of the organisation

majorly internal management uses the information of managerial accounting rather than financial accounting for making strategies and to develop internal resources of the organisation.

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ekkarill92 answered 8 months ago

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describe managerial accounting and the role of managerial accounting in business.

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