Managerial Accounting

ACC 206: Principles of Accounting II

Management accounting plays an important role in not only a company's well-being, but in educating a company of its current and future states. Large amounts of data are collected from literally every aspect of the company (as well as industry standards) and are dissected and organized into reports which present top management with the information it needs to make important future financial decisions. Although sometimes overlooked as an "important" role in a company, the information it brings is vital to its success.

Collecting data and reporting are two significant aspects of managerial accounting. There are many different sources of data which are used to present important information to various departments...