Managerial Accounting: Planning & Decision

Table of Contents

I. Introduction Pg. 2
II. Accounting Overview Pg. 3
III. Financial (Cost) & Management Accounting Pg. 4
IV. Management Accounting role in the Organization Pg. 6
V. Communication and presentation Pg. 7
VI. Management Process Pg. 8
VII. Conclusion Pg. 10
VIII. End Notes Pg. 11
IX. Bibliography/Further Readings Pg. 12

Introduction
As a business owner, manager, and director of various business entities that I manage, I can very much relate to many authors, business people, or individuals who appreciate the information derived from Management accounting. To describe management accounting in my own words, I would say; it is the accounting that describes the “what, where, when, why, and how” about the business. It is a domain that can lead a business to success, if the translations of it are utilized to their full potential.
The intent of this paper is to share lessons and thoughts of many teachers, writers, and authors of management accounting. There is no need to “re-invent the wheel” per say as the basics of requesting and obtaining management accounting information is more or less the same for everyone. However, what cannot be described or written with certainty is what the organization, business, or individual chooses to do with the information. Such decisions and actions remain to be seen as outcomes afterwards.
Managers or people inside the organization who direct and control its operations rely on managerial accounting information and other financial insights in order to plan and achieve business success.
Wikipedia defines management accounting or managerial accounting as concerned with the provisions and use of accounting information to managers within organizations, to provide them with a basis to make informed business decisions that will allow them to be better equipped in their management and control functions. Management accounting