The focus of managerial accounting is not on external users of financial information, but on...
90.2K
Verified Solution
Link Copied!
Question
Accounting
The focus of managerial accounting is not on external users of financial information, but on internal decision making. Managerial accountants analyze how financial resources are being used in an organization, and make recommendations on how those resources could be better utilized to increase profitability and return to the owners. Managerial accountants also analyze business opportunities, and make recommendations regarding whether an investment should be made, or a new line of business should be pursued. Consider recent strategic business decisions that have been reported recently in the financial press: mergers, new ventures, business reorganizations, etc. How might managerial accountants have assisted in making those decisions? What types of financial information or analyses might they have done to convince upper management to make those decisions? What environmental and macro-economic factors might have been involved in the decisions?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
