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Discuss what you believe is the most important aspect of managerial accounting.
Expert Answer
| The most important aspect of managerial accounting (MA) are as below: | |
| 1) | Management accounting (MA) focuses on creating value through values.MA focuses on the implementation of the strategy and managing risk by the means of accurate planning, forecasting, and budgeting. |
| 2) | MA makes analysis and reporting of financial measures and non-financial measures. |
| 3) | MA provides information to the management for use of internal decision making of the organization. |
| 4) | MA reports managers within the organization for planning, controlling and decision making purpose. |
| 5) | MA gives information to management employees inside the organization. It provides decision making information relevant to future, time and segment performance related. |
| 6) | MA is not mandatory and not required to comply with GAAP and IFRS. |
