BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -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-2: -Management accounting provides financial reports for internal stakeholders so they can make day-to-day decisions to improve the business. Management accounting, also known as managerial accounting, helps business owners, CEOs, managers and other stakeholders understand the financial progress of the organization.

Detailed explanation-3: -Management accountants work for public companies, private businesses, and government agencies. These professionals may also be called cost accountants, managerial accountants, industrial accountants, private accountants, or corporate accountants.

Detailed explanation-4: -Managerial accountants help determine where bottlenecks occur and calculate the impact of these constraints on revenue, profit, and cash flow. Managers can then use this information to implement changes and improve efficiencies in the production or sales process.

Detailed explanation-5: -Controlling costs: Cost accounting helps the management foresee the cost price and selling price of a product or a service, which helps them formulate business policies. With cost value as a reference, the management can come up with techniques to control costs with an aim to achieve maximum profitability.