This post addresses managerial accounting issues.
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You are a senior level manager in a large company:
List and explain the types of accounting information that are important to you and your staff when making decisions.
Explain how your managerial accountant uses technology to develop and communicate this information throughout your large company.
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Solution Summary
The solution explains the types of accounting information that are important when making decisions if you are a senior level manager in a large company. This solution also explains how managerial accountants use technology to develop and communicate this information throughout your large company.
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The three types of accounting information that are the most important are financial (accounting) data, income tax information, and non-financial (managerial) accounting information. Financial information assists in the decision making process mainly by the use of the financial statements. The financial statements go through a sequential process which stars with the first step in the accounting cycle. As the information is prepared, additional information is added along with the financial statements which fall into one of two categories - 1) the notes to the financial statements, and 2) the management discussion and analysis, also called the MD&A. Financial accounting information serves two main purposes. The first main purpose is that it allows external users to use the information for investing, lending, and credit decisions. This directly interacts with how management uses the same financial accounting information because management can analyze the financial ...
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