The Value of Managerial Accounting Term Paper by Nicky

An in-depth discussion of the role of managerial accounting in an organization.
# 147249 | 2,522 words | 10 sources | APA | 2010 | US
Published on Mar 04, 2011 in Accounting (Managerial)


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Description:

The paper discusses four characteristics that distinguish managerial accounting from other formats of accounting and then identifies the aims of this form of accounting. The paper explains the concepts of activity-based-costing, the balanced scorecard and bottleneck accounting and looks at the overall difference in 'traditional' and 'innovative' managerial accounting formats. The paper examines the responsibilities of the managerial accountants within an organization and then looks at important breakthroughs in managerial accounting, including the concept of grenzplankostenrechnung (GPK), lean accounting resource consumption accounting (RCA) and transfer pricing.

Outline:
Introduction
Managerial Accounting Defined
Aims
Common Managerial Accounting Practices
Responsibilities of the Managerial Accountants Within an Organization
Important Breakthroughs in Managerial Accounting
Conclusion

From the Paper:

"Managerial Accounting, simply put, is the procedure whereby we can classify, calculate, assess, understand, and transfer all the relevant data that is needed to help a company attain its short-term and long-term objectives. Managerial accounting can also be called cost accounting. The primary distinction between the concepts and practice of managerial accounting and financial accounting is that the former is chiefly designed to assists the administrative units within the company to make assessments/conclusions and overall control over the company, while the latter is mainly a source of reference and information for peripheral bodies, like stockholders and brokers, outside the company."

Sample of Sources Used:

  • Friedl, Gunther; Hans-Ulrich Kupper and Burkhard Pedell (2005). "Relevance Added: Combining ABC with German Cost Accounting". Strategic Finance (June): 56-61.
  • Garrison, R. H., P. E. Noreen, 'Managerial Accounting', Irwin McGraw Hill, 1999
  • Horngren, C. T. and G. Foster, 'Cost Accounting, A Managerial Emphasis', Prentice-Hall, Inc. 1987
  • Johnson, H. T. and R. S. Kaplan, 'Relevance Lost: The Rise and Fall of Management Accounting', Harvard Business School Press, 1987.
  • Kaplan, R. S., D. P. Norton, 'The Balanced Scorecard - Measures that Drive Performance', Harvard Business Review, January - February 1992.

Cite this Term Paper:

APA Format

The Value of Managerial Accounting (2011, March 04) Retrieved December 06, 2021, from https://www.academon.com/term-paper/the-value-of-managerial-accounting-147249/

MLA Format

"The Value of Managerial Accounting" 04 March 2011. Web. 06 December. 2021. <https://www.academon.com/term-paper/the-value-of-managerial-accounting-147249/>

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