BUSINESS ADMINISTRATION
ACCOUNTING FOR MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Compulsory
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Legally obligatory
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Compulsory to some and optional to other
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Optional
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Detailed explanation-1: -Management accounting is normally used in big organization. Its optional and not mandatory.
Detailed explanation-2: -Managerial accounting can be used in short-term and long-term decisions involving the financial health of a company. Managerial accounting helps managers make operational decisions–intended to help increase the company’s operational efficiency–which also helps in making long-term investment decisions.
Detailed explanation-3: -Solution: Purpose of management accounting is to help managers make decisions. Management accounting helps organizations improve their ability to control costs and plan for the future through financial forecasts. It also focuses on providing reports to ensure comprehensive management oversight.