Business, 26.06.2020 15:01 rebekahlm

Consider the role of management accounting in relation to the company for which you work (or have worked). Discuss how the principles of management accounting can be utilized. What specific managerial accounting activities would be useful?

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Answer from: ElizabethF

Role of management accounting :

1. provide internal information on operations

2. help in decision making

Utilization of management accounting principles

1. make or buy decisions

2. continuing or discontinuing of operations

Useful managerial Accounting Activities

1. planning

2. deciding on the alternative causes of action

Explanation:

Role of Management Accounting is to provide managers with information related to their operations.This includes the costs and revenue incurred, the deviations from the planned costs and revenue and profit targets.

This information would help to control costs and revenues or make certain decisions of continuing or discontinuing operating of a product or segment.

Thus managerial accounting activities that are useful are planning, deciding on the alternative causes of action, implementation, monitoring and control

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

Answer from: Quest

Some disadvantages to leasing a car is that you are counting on someone to give you money every week or month depending on what you decided and if they don't have all of it well what if you needed that money now you as well have to pay not in full. a disadvantages to purchasing a new vehicle is if it is used then not all the time will absolutely everything work. its almost like a trail and era. although if it is a new car they will try to though all these specials and deals at you in your lease and it can be very overwhelming if you are not use to it.

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Consider the role of management accounting in relation to the company for which you work (or have wo...

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