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Application of Managerial Accounting

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ACC202: Principles of Managerial Accounting: Week 5 – Assignment: 3 Final Paper
September 24, 2012
Esther Lopez
Instructor: Paul Verlasky

(Name of University or School) ACC202: Principles of Managerial Accounting: Week 5 – Assignment: 3 Final Paper
September 24, 2012
Esther Lopez
Instructor: Paul Verlasky

(Name of University or School)

Application in Managerial Accounting Looking back to the beginning of this course, these few weeks have been a great challenge, confusion, and knowledge. Before starting the Accounting course, seeing it as a world of numbers, solving mathematic problems, spreadsheets, and journals. I found myself learning a new world of knowledge of financial reports, assessing tools of management in understanding financial concepts which will allow to be organized, efficient, and productive. In the First week, we learn the differences between Managerial and Financial Accounting. Financial accounting is design as an informational tool for business managers and limited to the needs of external users for investors and creditors. Managerial accounting focuses on information used by executives, managers, and employees who within the business it allows them to plan, direct, and control business operations. Also, reviewing the cost behavior, operating leverage, and profitability analysis. “To plan and control business operations effectively, managers need to understand how different costs behave in relation to changes in the volume of activity.” (Edmonds, Olds, Nair, & Tsay, 2010;pg 411) This week I can relate and understand the concepts, as a manager for a dental office how to utilize these factors and place them in good use to be capable to be more efficient in my performance. Having a great responsibility on my shoulders it is my duty to be more aware of the characterics of objectivity, reliability, and consistecy in success

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