What are the basic concepts of managerial accounting?

Each chapter contains detailed written explanations of fundamental managerial accounting concepts such as cost behavior, job costing, cost classifications, cost volume profit analysis, incremental decision making, budgeting, and variance analysis.

What is managerial accounting?

Managerial accounting encompasses many facets of accounting, including product costing, budgeting, forecasting, and various financial analysis. This differs from financial accounting, which produces and disseminates official financial statements for public consumption that conform to prevailing accounting standards.

How does managerial accounting differ from financial accounting?

Managerial accounting differs from financial accounting because the intended purpose of managerial accounting is to assist users internal to the company in making well-informed business decisions. Managerial accounting involves the presentation of financial information for internal purposes to be used by management in making key business decisions.