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How relevant is managerial accounting for a firm’s decisionmaking process? Is managerial accounting more than just estimatinga cost for the financial accounting systems of a firm?

Does managerial accounting systems have an impact the value of afirm? If so, how?

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Sixta Kovacek
Sixta KovacekLv2
28 Sep 2019

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You will explore the profession of accounting, from theperspective of managerial accounting work and careers. Below issome information that can get you started, though you will need todo some additional research on your own. You can use the library,the Internet or interview a managerial accountant to accessadditional information. Create a written document in the properform that includes the following: What is managerial accounting?What is the difference between managerial and financial accounting?Who are the users of financial accounting and managerial accountinginformation? How is managerial accounting information used to makedecisions? Identify some different jobs someone with a managerialaccounting education/experience can engage in. What is the IMAStatement of Ethical Practice and how does it impact the behaviorof an accounting professional? Describe the CMA certification forManagerial Accounting Professionals.

Essay

Answer the questions below in essay format.

Your essay must include an introduction, body, and conclusion,and address all relevant parts of each question. Your responseshould be a minimum of 300 words in length. Make sure to cite anyreferences you use. Proper citation format for a reference includesthe name of the author(s), the title of the work, the date of thepublication, and the page number.

Managerial vs. Financial Accounting

Define how managerial accounting differs from financialaccounting. Be sure to address the diverse users of managerial andof financial accounting and how each would use accountinginformation. Additionally, explain how the Sarbanes-Oxley Act (SOX)affects management accountants specifically and answer thisquestion: In your opinion, is SOX enough to deter unethicalaccounting practices internally? Be specific.

I need a discussion response to the following peers discussion post

When it comes to Managerial Accounting, a more in depth tone is taken when information is passed down to different leaders in the company. Having only financial statements is not the end-all-be-all of how a company is ran. The three tasks that managerial accounting helps with are: 1. Cost of an organization’s products and services 2. Potential activities 3. Comparing of actual results to the planned ones (PowerPoint, Ch. 1 p. 4). How I see ethical issues arising is if certain decision makers are not honest. Making decisions and running an organization with both aspects is a must in order to achieve the success needed. Dishonesty would eventually show in the financial aspect of the business, so specific reporting requirements for managerial accounting would not be needed.

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