May 19th, 2015
Studypool Tutor
Walsh College of Accountancy and Business Administration
Price: $15 USD

Tutor description

Word Count: 2133
Showing Page: 1/6
DEDAN KIMATHI UNIVERSITY OF TECHNOLOGYHBC 2213: Managerial Accounting1. Nature and Scope of Management Accounting2. Decision Making process and environmentsKey DefinitionsDefinition of accountingAccounting is the process of identifying measuring and communicating economic information to permit informed judgments and decisions by users of information.It is therefore concerned with providing information that will help decision makers make good decisions.To understand accounting one must understand:The attributes of good information Process of measuring and communicating information The decision making processUsers of informationThe above points are briefly discussed below:Users of informationThe users of information can be divided into two:Internal users who are parties within the organization e.g. the management or the employees.External users who on the other hand, are parties outside the organisation e.g. the shareholder, creditors, government, customers, etcFrom the users point of view accounting can be divided into two:Management Accounting Which is concerned with provision of information to people within the organisation to help them make better decisions. Management accounting is concerned with the provision and interpretation of the information required by management at all levels for the following purposes:Formulating the policies of the organisationPlanning the activities of the organisation in the long-term, medium-term and short-term

Review from student

Studypool Student
" Excellent work as always thanks so much "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1820 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors