Solution Manual For Introduction to Managerial Accounting,

BUS 338 Managerial Accounting


Overview and Introduction to
Managerial Accounting




By




Dr. Abubakar Karaye, Ph.D., CMS (London),
CMC, FIMC, ADAA, MBA (Finance), BSc.

,CONTENTS 01 The Users of Accounting Information


Differences between Managerial Accounting and
02 Financial Accounting

Differences between Managerial Accounting and
03 Cost Accounting
Strategic Decisions and the Managerial Accountant
04
Decision Making, Planning, and Control: The
05 Five-Step Decision-Making Process

06 Functions of managerial accounting


07 Key Managerial Accounting Guidelines


08 Roles of Management Accountant

, Course Overview

What is Managerial accounting?
Managerial accounting is popularly known as Management Accounting. Therefore the two
terms are used interchangeably.

There are many definitions of managerial or management accounting by various researchers
and organizations, however, the most popular definition is given by the Chartered Institute of
Management Accountants (CIMA):

“Management Accounting- as an integral part of management is concern with identifying,
presenting, and interpreting information used for:
 Formulating Strategy
 Planning and controlling activities
 Decision making
 Optimizing the use of resources
 Disclosure to shareholders and other external parties
 Disclosure to employees, and
 Safeguarding assets