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How Managerial Accounting Supports Management Information Systems
What is the role of managerial accounting in an organization?
Your business has been open for a month, and you have prepared an income statement and completed a variance analysis of the data. The investors would like to see the thought process behind your financial strategy and how your company has performed in its first month. Describe how managerial accounting supports management information systems. Utilize managerial accounting techniques and models to support an organization’s strategic plan. Explain how managerial accounting is used to make decisions about short-term business opportunities, capital investments, and evaluating operational performance.