Asked by ashley alvarez on May 11, 2024
Verified
Managerial accounting is also called
A) management accounting.
B) controlling.
C) analytical accounting.
D) inside reporting.
Managerial Accounting
The process of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the purpose of achieving organizational goals.
Management Accounting
The method of creating management reports and financial statements that offer precise and current financial and statistical data needed by managers for making daily and short-term choices.
Analytical Accounting
The practice of using financial and non-financial data to uncover trends and insights for business decision-making.
- Understand the objectives and roles of managerial accounting.
Verified Answer
HC
Heather CuretonMay 15, 2024
Final Answer :
A
Explanation :
Managerial accounting is also known as management accounting, which refers to the process of identifying, measuring, analyzing, interpreting, and communicating financial information for internal use by managers to help them make informed decisions that will improve the organization's overall performance. Controlling and analytical accounting are both broad terms that may encompass aspects of managerial accounting, but they do not fully capture the scope of this field. Inside reporting is not a commonly used term in accounting.
Learning Objectives
- Understand the objectives and roles of managerial accounting.