What concept(s) or chapters covered in managerial accounting do you think will have the greatest positive...

What concept(s) or chapters covered in managerial accounting do you think will have the greatest positive impact for a professional working in the real world?

Expert Solution

Answer :-

Managerial accounting is the practice of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the pursuit of an organization's goals.

The chapters covered in managerial accounting that will have the greatest positive impact for a professional working in real world aare:-

Activity based costing : As per this concept a professional will learn a costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each. This model assigns more indirect costs(overhead) into direct costs compared to conventional costing.
Cost volume profit analysis : Cost-volume-profit (CVP) analysis is a method of cost accounting that looks at the impact that varying levels of costs and volume have on operating profit. The cost-volume-profit analysis, also commonly known as break-even analysis, looks to determine the break-even point for different sales volumes and cost structures, which can be useful for managers making short-term economic decisions.
Budgeting : Successful professional allocate time to create and manage budgets, prepare and review business plans and regularly monitor their financial situation and business performance. Budgeting identifies current available capital, provides an estimate of expenditure and anticipates incoming revenue.

ekkarill92 answered 2 years ago

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