The above extension or explanation of the responsibility of a managerial accounatant mainly highlights the fact that a managerial accountant has responsibilities not only to the finance department of an organization but also the entire team that is working within the organization. Hence, along with the classification, calculation, assessment, understanding, and transferring all the relevant financial data, the managerial accountant is also responsible for helping the business team:

Customer satisfaction reports and assessments,

The balanced scorecard procedures for the overall sales,

In understanding the finances for the creation of a new good or service,

The factors that channel or guide the business activities metrics, and Research on superior functionality strategies (Johnson & Kaplan, 1987).

It is important to note here that the managerial accounting is different from the basic financial accounting because the latter only helps keeps a record of all financial expenditure or balance while the former helps the...
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