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11 Apr 2019

How does this statement: “Managerial accounting and financialaccounting work is interrelated and the accountants must worktogether closely” relate to accounting concepts? Explain the costflow in a manufacturer’s job order costing system.

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Bunny Greenfelder
Bunny GreenfelderLv2
13 Apr 2019

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Define how managerial accounting differs from financialaccounting. Be sure to address the diverse users of managerial andof financial accounting and provide examples of how at least fiveusers would utilize accounting information.

Illustrate how managerial accounting information assistsmanagers in performing the roles of planning, directing, andcontrolling by providing an example of each.

Briefly explain how the Sarbanes-Oxley Act (SOX) affectsmanagement accountants specifically, and answer this question: Inyour opinion, is SOX enough to deter unethical accounting practicesinternally? Be specific and support your opinion with academicresearch.

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.

You work as a Management Accounting officer in a smalland medium organization operating in either a Manufacturing,Retail, Hospitality or Construction sector with not more than fifty(50) employees and an annual net turnover not exceeding£500,000.
Management accounting plays a key role in organizations today andtherefore decision makers in the organization must understand howto create and use good management accounting information. Intoday’s business environment, business wants to track performanceinformation that goes beyond just the cost-based information ofhistoric general ledger systems provided by traditional financialaccounting information. Good management accounting involves aresponsibility to manage a wide variety of critical managementaccounting information using management accounting system andmanagement accounting techniques such as cost-volume- profitanalysis, marginal costing and absorption costing to producerelevant management report for informed decision making.
This was the summary of the speech delivered by a conferencespeaker about the role of management accounting and managementaccounting system in an organization. The General Manager of yourorganization sees management accounting function as very crucial inproviding management information well informed decision makingwithin the organization. Knowing that you are studying managementaccounting at the HND level, the organization sponsored you toattend this conference. After this conference the Generalmanagement has asked you (Management Accounting Officer) to write areport to him covering management accounting and managementaccounting system together with different costing techniques andreporting to enable the organization implement them.
Explain management accounting and give the essential requirementsof different types of management accounting systems to the chosenscenario giving examples. Explain different methods used formanagement accounting reporting that can also be used for the cscenario. (1000 words). NO PLAGIARISM PLEASE

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