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Responsibilities of Managerial Accounting

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Congratulations! You have been hired by Claire's Antiques as its new accountant. Since Claire's Antiques is a small company, you will responsible for all of its accounting functions related to financial and managerial accounting.

You are explaining your new role to your friend. After explaining what you do, she expressed surprise about your role. She thought accountants did taxes and just 'did the books' after the real business of the company was over.

Explain to your friend why accounting is a much broader role and the type of positions available to accountants. Use the Library and the internet as necessary to explain to her the positions and responsibilities of managerial accountants.

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Solution Summary

Why accounting is a much broader role and the type of positions available to accountants are explained.

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Accounting is the measurement, disclosure or provision of assurance about financial information primarily used by:
- Managers,
- Investors,
- Tax authorities and
- Other decision makers to make resource allocation decisions within companies, organizations, and public agencies.

Accounting is the discipline of measuring, ...

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