Cima Ba2 Exam
management accounting - Answer- the application of the principles of accounting and financial management to create, protect, preserve and increase value for the stakeholders of for profit and not for profit enterprises in the public and private sectors focus of mgmt accounting - Answer- add value through relevant information by communication and trust MA's must provide relevant info so that we can influence decisions, only if they trust us ultimately to add value to the business global mgmt accounting principles - Answer- influence relevance trust value data into info - Answer- once raw data has been processed by us into useful form, it can be called information characteristics of good information, ACCURATE - Answer- Accurate Complete Cost beneficial Understandable Relevant Authoritative Timely Easy to Use levels of decisionmaking - Answer- strategic, tactical, operational at strategic level, decisions: - Answer- -impact entire org - long term ex. new market, M&A historical and forecast source infrequent subjective wide ranging summarised at tactical level, decisions: - Answer- -medium term impact -might affect just part of the org ex. budgets, products, pricing, marketing at operational level, decisions: - Answer- -at business unit level - short term, even daily ex. timetable, staffing, stock levels historical
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