Planning-role of management accountant , Managerial Accounting

Planning

Planning is the fundamental function of the management by means of which the managers decide:

  • What goals are to be accomplished
  • How they will be accomplished.
  • Planning provides the manager a warning of likely future crisis and therefore they avoid the need to make unplanned decisions.
  • The management accountant aids to formulate future plans by providing information to assist in deciding what product to sell, in what market and at what prices and in evaluating proposals for capital expenditure.
  • In the budgeting procedure the management accountant provides data on past performance, establishes budget procedures and budget time tables.

 

Posted Date: 12/4/2012 6:09:30 AM | Location : United States







Related Discussions:- Planning-role of management accountant , Assignment Help, Ask Question on Planning-role of management accountant , Get Answer, Expert's Help, Planning-role of management accountant Discussions

Write discussion on Planning-role of management accountant
Your posts are moderated
Related Questions
Prepare Summary Journal Entries to record the( 1) requistion slips

Factory Layout The first stage of implementing the JIT manufacturing techniques is to rearrange the factory floor away from the batch production functional layout towards a pro

Introduction of zero base budgeting Steps involved in the introduction of zero base budgeting 1) Corporate objectives should be established and laid down in detail 2) Dec

The firm's require holding cash may be attributed to the three motives specified below: The transaction motive The precautionary motive The speculative motive.

Explain:- Q.1 As a potential investor, what is the problem with different countries having different accounting standards? As the president of a multinational company, what is

Explain about Office and administrative expenses These expenses are not related to factory but they pertain to the management and administration of the business. Such expenses

Activity based costing versus traditional costing Following are the main differences between activity based costing system and traditional costing system: Explain  1) Und

Advantages of ratio analysis 1) Helpful in financial analysis: financial analysis is easier if accounting ratios are used to analyze the different financial statement relatio

This variable deals along with the granting of credit. On one great all the customers are granted credit and conversely, none of them are granted credit irrespective of their credi

Applications of Markov Chains They are a particular class of probabilistic models and their applications include analysis of: Inventory systems Replacement and mainten