Decision Making with Managerial Accounting - [art 1

Mar 29th, 2015
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Decision Making with Managerial Accounting Part I (three to four double-spaced pages, excluding the title and reference pages) Present the following: Define managerial accounting Describe the role of managerial accounting and the management accountant in a business or organization Describes ethical issues/concerns for the management accountant Describes at least three managerial accounting techniques available and their application within a business or organization

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Role of the AccountantNameInstitution affiliationDateYearPart 2Roles of the management accountantThe accountant of the company or the organization has got many functions in regards to many or other aspects of the organization. They play a large role especially in determining the success of the company. The advisory role that they play gives them a higher ground in ensuring that the company becomes successful or that it fails.The role of the management accountant in budgetingThe accountant prepares all the financial books. This means that they should be giving up to date information concerning the financial status of the company. With this in mind, the accountant becomes the best people to handle all the budgets of the company, including paying off debts amongst other budgeting roles. A budget is a tentative document that gives detailed explanation of how money will be spent.Budgeting can also be referred to as planning. During planning, the accountant has got to look at the cash at hand and cash in bank as well as the assets of the company. The detailed financial status of the company therefore will help the accountant to determine the projects that are viable and those that can be achieved. Budgeting prevents over expenditure and going into projects that cannot be accomplished. This document is normally prepared with the assets available in mind and the kind of profits that this venture will bring to the company. It is the final goal or achievement

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