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
What are the Principles of management accounting? 1. The procedures and methods to be followed for keeping and analyzing financial statements should have consistency. It enable

the suitability of incremental budgeting to a stable and static environment

QUESTION 1: Part A What are the main components of a set of Financial Statements and what are their respective purposes? Part B Trial balances of Hans Ltd on 30 Ju

PART 1 Carlton Ltd operates at capacity and makes glass-topped dining tables and wooden chairs which are then typically sold as sets of four chairs with one table. However, some c

Explain TWO limitations of using accounting ratios to assess the performance of a firm and suggest how each limitation may be improved

Financial manager's role in inventory management The techniques of inventory management are very useful in determining the optimum level of inventory and finding answers to the


MULTIPLE REGRESSION The least square regression equation discussed above was based on the assumption that total cost was determined by only one activity based variable. However

Describe the Nature of standard costing The system of standard costs (standard costing) is a management technique of using predetermined costs (standard costs) for evaluating p

Loan Syndication : There are two ways of syndication as: direct lending and through participation. - Direct Lending: regarding "direct lending" all the lenders sign the loa