Finance - Managerial Accounting
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... Managerial Accounting Introduction Managerial accounting is the branch of accounting that deals with the use of accounting information for assisting managers in making sound business decisions. It is mainly related to costs and not expenses. The Institute of Management Accountants has defined managerial accounting as “the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of financial information used by management to plan, evaluate, and control within an organization and to assure appropriate use of and accountability for its resources” (qtd in Davis & Davis, 3). Hence, managers can influence organizations’ cost behavior to a great extent. ...