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Essay Details:
Essay text:
Accountants have traditionally concentrated on recording what has happened financially in the past; however, in managerial accounting, accountants are increasingly involved in helping to formulate policy for business organizations, providing information for decision-makers and frameworks for making those decisions. Managerial accountants use financial accounts in the process of decision0making within a business organization. Examples of this process would include determining which business activities were least profitable and then making a decision about whether or not to continue with these business activities, or estimating future revenues in order to aid decision-making today...
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