Accounting Essay Example | Topics and Well Written Essays - 500 words - 34

Accounting - Essay Example Therefore, what matters is quality decision and hence the need of managerial accounting in an organization. Unlike in financial accounting, the decisions made in management accounting are meant for internal users only. The internal users of information are the top managers, employees and departments in a company. Many organizations use enterprise resource planning system (ERP) to report, gather, arrange and supply information and converting it into meaningful information for decision making (Jackson, Sawyers & Jenkins, 2009). Managerial accounting is a career unit and helpful to students as it prepares them on their duties and responsibilities as future managers (Jackson, Sawyers & Jenkins, 2009). In management accounting, students are taught costing methods, decision making techniques and pricing methods which are the core functions of a manager. Also, students get conversant with ways to solve accounting problems like cost minimization and profit maximization techniques. Students are able to acquire the main concepts in both financial and managerial accounting, which changes their attitude to accounting as a discipline. Accounting as a profession is essential to everybody since it is practiced in all sectors. This forms the basis of future successful entrepreneurs in the society. Therefore, managerial accounting matters to student as it is applicable in all careers especially in decision making. The role of a manager is beyond controlling and issuing commands and directives. There are many skills that a manager should have in order to manage the activities in an organization. Good communication is very vital in an organization, and without it everything will be disorganized. Many companies look for competent leaders with good communications skills as a qualification. Managers with reputable organizational skills tend to improve the performance of a business as they make things done in an organized manner.