Discussion Assignment-01-BUS-5110 Manegerial Accounting
Discussion Assignment-01-BUS-5110 Manegerial Accounting
Discussion Assignment-01-BUS-5110 Manegerial Accounting
Discussion Assignment-01
Topics: In the discussion forum you are expected to participate often and engage in deep levels
of discourse. Please post your initial response by Sunday evening and continue to participate
throughout the unit. You are required to post an initial response to the question/issue presented in
the Forum and then respond to at least 3 of your classmates’ initial posts. You should also
respond to anyone who has responded to you.
Your Discussion should be a minimum of 250 words in length and not more than 450 words.
Please include a word count. Following the APA standard, use references and in-text citations for
the textbook and any other sources.
Consider the role of management accounting in relation to the company for which you
work (or have worked). Discuss how the principles of management accounting can be
utilized. What specific managerial accounting activities would be useful?
Note: if you do not have work experience, you may select a company with which you are
familiar and apply the discussion assignment to it.
Discussion
Managerial accounting is the practice of identifying, measuring, analyzing, interpreting, and
communicating financial information to managers for the pursuit of an organization's goals
(Tuovila, 2020). In this discussion, we will see the role of managerial accounting in the company
where I work, how management accounting concepts can be applied, and what managerial
accounting practices would be beneficial.
1. Influence - Communication is both the beginning and the end of management accounting. It
improves the decision-making process by providing relevant details at all stages of the decision-
making process. Management accounting is able to cut across silos and supports an integrated
thought process thanks to effective transmission of key information.
According to Codjia (2017), key activities of management accounting include budgeting, internal
financial reporting, cost analysis and monitoring of internal controls, systems and procedures.
But budget and Cost analysis & monitoring of internal controls are the most useful activities to
me because these are describing the whole tenure of investment with possible vulnerabilities.