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Managerial accounting information can be forwarded to the managers of a company quickly since external auditors do not have to review it,and estimates and projections are acceptable.
Managerial Accounting
The method of pinpointing, quantifying, examining, elucidating, and relaying financial data to managers to help achieve the objectives of an organization.
External Auditors
Independent experts who review the financial statements of a company to ensure accuracy and compliance with accounting standards.
Estimates
Approximations or educated guesses used in accounting to quantify amounts when precise measurements are unavailable or impractical.
- Develop an understanding of the various roles and differences that distinguish financial from managerial accounting.
- Gain insight into the array of tools within managerial accounting that support decision-making processes.
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Learning Objectives
- Develop an understanding of the various roles and differences that distinguish financial from managerial accounting.
- Gain insight into the array of tools within managerial accounting that support decision-making processes.
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