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THE ROLE OF MANAGERIAL ACCOUNTING IN THE MANAGEMENT PROCESS

Ioana-Diana Bufan

Open publisher page 2 citations

Abstract

The process of accounting is in charge with identifying, measuring and communicating economic information in order to allow its users to make the correct decisions and judgments. First of all, it is important to distinguish between the two branches of accounting: managerial accounting, which deals with internal users of accounting information, and financial accounting, which provides information to external users. On the other hand, the concept of cost accounting is different from the one of managerial accounting, because it deals with the aggregation of costs that are used in valuation of stocks in order to meet external reporting requirements. Considering the functions of the management process, management accounting plays an important role in helping managers to lead the organization in an efficient way, regarding any of these functions.

About this research paper

What this paper is about

The process of accounting is in charge with identifying, measuring and communicating economic information in order to allow its users to make the correct decisions and judgments. First of all, it is important to distinguish between the two branches of accounting: managerial accounting, which deals with internal users of accounting information, and financial accounting, which provides information to external users. On the other hand, the concept of cost accounting is different from the one of managerial accounting, because it deals with the aggregation of costs that are used in valuation of stocks in order to meet external reporting requirements. Considering the functions of the management process, management accounting plays an important role in helping managers to lead the organization in an efficient way, regarding any of these functions.

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OpenAlex reports 2 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

The process of accounting is in charge with identifying, measuring and communicating economic information in order to allow its users to make the correct decisions and judgments. First of all, it is important to distinguish between the two branches of accounting: managerial accounting, which deals with internal users of accounting information, and financial accounting, which provides information to external users. On the other hand, the concept of cost accounting is different from the one of managerial accounting, because it deals with the aggregation of costs that are used in valuation of stocks in order to meet external reporting requirements. Considering the functions of the management process, management accounting plays an important role in helping managers to lead the organization in an efficient way, regarding any of these functions.

Key concepts: Management accounting, Cost accounting, Accounting information system, Accounting, Throughput accounting, Business, Valuation (finance), Order (exchange)

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