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CA FINAL COSTING NEW SYLLABUS - PERFORMANCE MEASUREMENT by CA SANKALP KANSTIYA
Strategic Cost Management & Performance Evaluation By: CA B. Saravana Prasath
In management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions. One simple definition of management accounting is the provision of financial and non-financial decision-making information to managers. According to the Institute of Management Accountants IMA : "Management accounting is a profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy". Management accountants also called managerial accountants look at the events that happen in and around a business while considering the needs of the business. From this, data and estimates emerge.
This book provides tools for managers to understand and interpret financial information as part of their organization's strategic planning and decision-making. The authors say that, regardless of industry or field, all managers must be able to use financial information effectively in their jobs.
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In this course, participants learn to analyze the performance of projects, and even entire departments, from a financial perspective; gain a deeper understanding of how resources are allocated throughout an organization; and understand how to leverage cost analysis to position a particular project or department for success. Receive email updates on Strategic Cost Analysis for Managers. Save Program. This cost analysis course offers a unique opportunity for program and project managers to learn cost accounting-based management practices and strategies for making smart business decisions that justify outcomes and create value. Whereas financial accounting is used primarily to communicate the overall results for an entire organization to external parties, strategic cost analysis helps you answer the granular, day-to-day questions: How much does this product cost to make? How should I price this service?