ACCT 6002 Managerial Accounting

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The ACCT 6002 Managerial Accounting course basically explain the role of management accountants, highlighting how management accountants can support management decision making in the global business environment. By participating in teacher-led activities, students will develop analytical and problem-solving skills, as well as provide advice on issues related to strategy and control, budgeting, costing methods, and organizational performance.

Management accounting is the practice of identifying, measuring, analyzing, interpreting and communicating financial information to managers in order to achieve the objectives of an organization. It differs from financial accounting because the intended purpose of management accounting is to help users in the company make wise business decisions.

Management accounting encompasses many aspects of accounting and aims to improve the quality of the information provided to management on business performance. The managing accountant uses information related to the value and proceeds from the sale of goods and services produced by the company. Cost accounting is a large part of management accounting that focuses on obtaining the total production costs of a company by estimating variable and fixed costs at each stage of production. This enables companies to identify and reduce unnecessary costs and maximize profits.

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