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Managerial or Cost Accounting
Managerial or cost accounting is the same thing. Many students think it to be different and often confuse it with financial accounting. Managerial or cost accounting deals with various processes like identifying, interpreting, measuring, communicating and interpreting all information for achieving the goals or objectives of a company.
The Extent of Managerial Accounting Practice
The managerial or cost accounting practice extends to some particular areas. So students have to deal and know about these in as much detail as possible. The three main areas which this practice extends are the performance management, strategic management and risk management. These have a vivid description on our connect managerial accounting answers chapter 1.
The connect managerial accounting answers chapter 1 gives a smooth overview of all the practices which makes this such a vital topic.
Information Managerial Accounting Provides
There is a lot of information which this accounting branch offers. Some are:
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