INTRODUCTION TO MANAGERIAL ACCOUNTING

In this report we will be going over the objectives and characteristics of an internal accounting system, the importance of accounting information to the company, and the ethics in business and the managing accountant’s role.

“HOW THE INTERNAL ACCOUTNING SYSTEM WORKS ON THE INSIDE” Introduction: The managerial accounting system is developed to give data that management can use to make accurate decisions (Shanker, N.D.). For i.e. manufacture businesses uses the system to help them with the cost and managing the manufacturing procedure (Shanker, N.D.). Hospitals uses the system to help them with insurance billing and other in-house needs (Shanker, N.D.). Internal managerial accounting system is totally different with different purposes for each business that it’s working for, giving for functionalities and the results to that company (Shanker, N.D.).