Accounting

Accounting covers the principles and practices of financial reporting, analysis, and management.

Introduction to AccountingFinancial StatementsDouble-Entry Bookkeeping
Financial Analysis and RatiosManagerial AccountingAccounting for Assets and Depreciation
Budgeting and ForecastingTax Preparation and ComplianceUsing Accounting Software
Exam-Ready Study HabitsTackling Accounting Problems
Introduction to Acco...Financial StatementsDouble-Entry Bookkee...Financial Analysis a...Managerial Accountin...Accounting for Asset...Budgeting and Foreca...Tax Preparation and ...Using Accounting Sof...Exam-Ready Study Hab...Tackling Accounting ...
Advanced Topics

Managerial Accounting

Looking Inside the Business

Managerial accounting focuses on providing information to managers for planning, controlling, and decision-making within the company.

Key Concepts

  • Budgeting: Planning future income and spending.
  • Cost Analysis: Figuring out how much it costs to make a product or provide a service.
  • Performance Measurement: Comparing actual results to budgets or standards.

Why Use Managerial Accounting?

It helps managers:

  • Make better decisions
  • Control costs
  • Improve efficiency

Real-World Application

Managers use this information to decide if they should launch a new product, cut expenses, or invest in new equipment.

Examples

  • A manager reviews a cost analysis report to decide if a product should be discontinued.

  • A company uses budgeting to set spending limits for each department.

In a Nutshell

Managerial accounting helps managers make informed business decisions.

Next
Accounting for Assets and Depreciation