Managerial accounting and
statistics are both interrelated; statistical graphics provides detailed
information to managers. Management accounting helps to drive the business
towards success, it also helps IT department to control cost transparency. Our
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Managerial accounting
concerns with giving information to managers. The managers are inside the
organization and who controls and operates all the functions of organization.
The managerial accounting homework includes information regarding, information
of cost of any company’s products and services. It also helps in making budget. Budget is quantitative explanation of money
that is where to finance and in what amount. It also includes many other
information related to organization control and other activities.
Read also: Statistics
Homework Help — Understanding the importance of statistics in different fields
Managerial accounting is
mainly designed to measure and control the internal efficiency and processes of
organization. It helps to make balanced scoreboard which is used as a key tool
in strategic management systems. It includes many more topics like trend
charts, variance analysis and other statistical reports. The main difference
between financial accounting and managerial one is financial accounting focuses
on the company as a whole whereas managerial accounting gives detailed
information of products, individual activities. Financial one is related to
historical information where as managerial one is primarily straight forward.
Managerial accounting is
applied in the field of strategic management, performance management and risk
management. It plays the role of strategic partner and provides decisions based
on financial and operational information.
Financial accounting is
case based where as managerial accounting is model based. Our company provides
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