Chapter 1 Terms
| Description: | Managerial Accounting BA231 |
| Category: | Accounting |
| Created by: | jpost01 on 2009-01-30 |
| Question | Answer |
| Goal of Managerial Accounting | to provide the information managers need for planning, control and decision making. |
| Planning | a plan communicates a company's goals to employees aiding coordination of various functions such as sales and production. |
| Budgets | the financial plans prepared by managerial accountants. |
| Control | control of organizations is achieved by evaluating the performance of managers and the operations for which they are responsible. |
| Performance reports | reports used to evaluate the performance of managers and the operations they control. |
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