How do you think you will use managerial accounting in your career to make strategic business decisions? Managerial Accounting Career Use

Managerial Accounting Career Use

Management accounting refers to the analysis of financial data in order make strategic business decisions. Garrison et. al. (2018). These tasks can be as simple as creating budget projections and analysing cost behavior. They also include evaluating performance for different business units. My career will include managerial accounting. This will allow me to make well-informed decisions regarding how resources are allocated and invest that will benefit the company’s long-term success. For example, I might use managerial accounting techniques such as cost-benefit analysis to evaluate the potential benefits and costs of implementing a new product line or expanding into a new market (Horngren,  2018). Garrison and colleagues (2018) also suggest that I use managerial accounting in order to determine the best way to distribute resources so as to optimize profitability. Management accounting is also used to create budget projections, monitor the actual performance, and adjust them if necessary (Horngren and al., 2018,). Cont…