ACC 206 Class Notes Ashford

Apr 18th, 2015
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Management AccountingACC 206MANAGEMENT ACCOUNTING2Management AccountingIntroductionManagement accounting is based on gathering the financial data of an organization andexamining and detailing it so that it can assist the managers of an organization. This informationis significant because for the realization of the economic goals of an organization, this economicinformation is required by managers. Managers require various sources of data and these sourcesare utilized for the purpose of making core management decisions, so that an organizationsobjectives can be accomplished.Management AccountingManagement accounting can be defined as that structure which makes the informationabout an organizations working transparent to its management staff so that that they caneffectively manage the procedures of decision making, planning and control (Atrill &McLaney, 1994, p. xii). The gathering and scrutiny of information in management accountinghelp managers interpret this data according to their requirements and also aid them in theprocedure of formulating decisions, mapping out various programs, and monitoring andorganizing the duties and areas of the organization which have been assigned to them so that therealization of plans could be guaranteed (Atrill & McLaney, 1994, p. xii).Further, the information based on management accounting is future-centric (Atrill &McLaney, 1994, p. 10).Sources of DataSufficient sources of data and compreh

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