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Running head: ACCOUNTING
Managerial accounting, also known as cost accounting is a process by which managers
identify, measure, analyze interpret and communicate information in pursuit of the goals of an
organization (Kimmel, 2016). It is a form of accounting designed for internal use to help
managers of an organized market for the future. Managerial accountants depend on financial
accountants to provide information that is relevant, objective and reliable. Types of managerial
accounting reports include;
Budget Reports- which cover critical company performance report as a whole. They are crucial
in guiding manages to cut off costs, renegotiate terms with supplier and vendors and offering
better incentives to emplo...
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