The Role of Managerial Accounting
In This Chapter
Understanding why managerial accounting is important
Costing business activities
Planning for profits and cash flow
Monitoring and evaluating performance
Considering the tasks and accreditation of managerial accountants
After months of work, you find yourself on your long-anticipated road trip, cruising down the highway for a relaxing week at the shore. Your goal is to enjoy a quiet week of sand, surfing, and fun. To reach your goal, you need a strategy, which in this case is loading up your car with luggage, tying the surfboards to the roof, filling the tank with fuel, and hitting the gas.
But you can’t forget to attend to important details along the way: Drive carefully, don’t speed, follow the directions, and fill up the tank before you run out of gas. Watch for important road signs. Make sure the surfboards stay securely attached to the roof. And out of excitement, try to predict what time you’ll reach your destination. ...