Management accounting as an information system

Explain Management accounting as an information system in brief?

E

Expert

Verified

The Management accounting is a portion of the business’s overall information system. Managers have to made decisions regarding the allocation of limited economic resources. To try to make sure that such resources are allocated in an efficient way, managers need economic information on which to base their decisions. This is the role of management accounting system to give that information and this will include the gathering of information and communication.

   Related Questions in Managerial Accounting

  • Q : Capital account An account used in a

    An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earning

  • Q : Define Job Costing Job Costing : It is

    Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs.

    Q : Basic accounting principles or concepts

    ACCOUNTING CONCEPTS: Presented below are basic accounting principles or concepts, with which hospital managers should be familiar and that they should understand i

  • Q : What is Uncontrollable Cost What is

    What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.

  • Q : Define Profit or Loss Analysis Profit

    Profit or Loss (P&L) Analysis: A financial statement which summarizes the revenues, costs and expenses acquired during a particular period of time - in general a fiscal quarter or year. Such records give information which exhibits the capability o

  • Q : Regions of decision making process What

    What are the possible broad regions of decision making process where management accounting information is required?

  • Q : Threats to business comprises Write a

    Write a brief note on the things which Threats to business comprises?

  • Q : Chapter 10 Unfocused Books is a

    Unfocused Books is a discount retail bookshop that has three departments: fiction, non-fiction and children’s books. Sales and cost of sales for each department are shown below. In addition, each department has its own fixed costs for staffing and takes a one-third share of rental and management cos

  • Q : The provision of management accounting

    explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating

  • Q : Comparability-Accounting information

    What do you mean by the term Comparability which is accounting information?

©TutorsGlobe All rights reserved 2022-2023.