Question

1. Why is managerial accounting important? 2. How can you use managerial accounting in real world/life? (can be opinion based)

Answer 1

1.

The purpose of managerial accounting in the organization is to support competitive decision making by collecting, processing, and communicating information that helps management plan, control, and evaluate business processes and company strategy

2.

In real world/Life the use of managerial accounting play a vital role in an organisation in order to successfull ,Managerial accounting can be used in several areas such as short term and long term decision involving financial aspect of a company

Hepls managers in planning , Budgeting and forecasting in different levels and department of the organisation

It helps managers to make operational decision inorder to increase the effeciency

Also helps in longterm investment decision inorder to maximise the shareholder's wealth