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Essay text:
Managers are responsible for making proper decisions to allow the company to be profitable. To ensure profitability and success, managers should utilize the functions of managerial accounting to assist in the decision making process.
Managerial accounting is the process of identifying, measuring, analyzing and
communicating financial information needed by management to plan, evaluate and control an organization’s operations (“Statements”). It’s the manager’s responsibility to the owner to ensure that the company is successful. Through managerial accounting, managers are provided information for internal planning and control to assist in leading the company...
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