Managerial Accounting -- Provides information and analysis to managers inside the organization to assist them in decision making.
Managerial accounting is involved with:
Costs of production
Costs of marketing
Preparation and control of budgets
Minimizing tax liabilities
Managerial Accounting LG2 17-
USERS of ACCOUNTING INFORMATION * * Managerial Accounting LG2 17- Users Type of Report Government tax authority Tax reports Government regulatory agencies Required reports People interested in the organization’s income Financial statements found in annual reports Managers of the firm Financial statements and internally distributed financial reports
Private Accountants -- Work in a single firm, government agency, or nonprofit organization.
Public Accountants -- Provide accounting services to individuals or businesses.
Certified Public Accountants (CPAs) -- Accountants who have passed a series of examinations established by the American Institute of Certified Public Accountants (AICPA) and met a states requirements for education and experience.
Financial Accounting LG2 17-
STEPS to CONTROL ACCOUNTING PRACTICES * * Financial Accounting LG2 17-