THE MANAGEMENT PROCESS.

School: The University of Alabama           Price: $5.00 USD

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This document consists three questions on management process and managerial accounting.

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The University of Alabama
Running Head: Management.TITLE: MANAGEMENT PROCESS.SCHOOL: UNIVERSITY OF ALABAMA.COURSE: MANAGEMENT.2|PageQuestions.1. Describe the management process.2. Explain the functions of managerial accounting.3. Discuss how you would apply the management process in a firm.ANSWERS.Q1.Planning, control, and decision-making are part of the management process that defines thefunctions of a manager as well as features that will assist the employees to achieve the set goals,(Byrnes). Planning involves identification of activities and methods that will help the companyachieve the set goals. Control is a process meant to supervise putting the plan into practice. It,therefore, involves corrective measures where required and feedbacks to evaluate these remedies.Decision making is the process where the best or most favorable solution chosen among itsalternatives. The management process is thus important to a manager as discussed below.Decision making is fundamental to a manager as it enables him or her to approve of activitiessuch as developing of budgets, performing asset and cost managements and approving of reportsthat are used by the management team. They can thus be able to develop business strategies thatwill effectively promote the growth of the company. Also, managers can assist in performing thecost analysis of products and divisions. Based on the information provided by the accountants,managers can make decisions based on productivity, for example, concern f
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