Definition of Managerial Accounting

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Managerial accounting means providing information about the company so that its management can run the company more effectively. Managerial accounting also provides instructions on computing the cost of products for a manufacturing unit. These costs are used in the external financial statements. In addition to computing cost for manufacturers, it also help company on other area of managerial accounting such as cost behavior, break-even point, profit planning, operational budgeting, capital budgeting, relevant costs for decision making, activity based costing, and standard costing.

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