Updated July 24, 2015
Management Accounting Chicago Illinois
What is Managerial Accounting?
Management accounting or managerial accounting is concerned with providing financial information to managers within organizations, so that they may make informed business decisions that will allow them to be better equipped in their management and control functions.
In contrast to external accounting, managerial accounting information is:
- primarily forward-looking, instead of historical
- model based to support decision making generically, instead of case based
- designed and intended for use by managers within the organization, instead of being intended for use by shareholders, creditors, and public regulators
- usually confidential instead of publicly reported
- computed for the needs of managers, often using management information systems
Managerial Accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation and communication of information used by management to plan, evaluate and control within an entity and to assure appropriate use of and accountability for its resources.
If you are having problems with your Management Accounting Chicago Illinois or have issues with your accounting in general, we would love to help. I enjoy hearing from my readers, and can be contacted at
Chris@AccountingSolutionsltd.com
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www.AccountingSolutionsLtd.com
Chris Amundson is the President of Accounting Solutions Ltd., a full service public accounting firm of Certified Public Accountants and Enrolled Agents handling the bookkeeping, accounting, tax preparation, and audit representation needs of Businesses, Estates, Trusts, and Upper Income Individuals.