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SLP 1- Introduction to Managerial Accounting - Essay Example
Author : gmurazik
Finance & Accounting
Pages 3 (753 words)
Introduction to Management Accounting University Name: Abstract This paper is about management accounting (also known as cost accounting) and its use in planning and controlling the operations and results at Walmart. Management Accounting strives to fulfill the requirement of management and helps them make critical decisions, rather than following a set standard for reporting to stakeholders…
Walmart is one of the largest retail outlets' operator, operating approximately ten thousand stores in 27 different countries. The paper emphasize on the role of management accounting in multinational companies. Introduction to Management Accounting Management Accounting Management accounting is a branch of accounting, which collects information about a company's overall management mannerisms and suggests specific measures to promote further reformation. Among other things, the roles of management include planning, controlling, leading, organizing, staffing and decision making. In order to plan and implement any decision management needs a set of data, facts, analysis and reports; management accounting helps them collect it (Drury, 2004). Wal-Mart Inc. is the operator of a large number of stores worldwide. It operates around 27 different countries under three distinct banners. (Walmart Corporate Website, 2012) The role of management at Walmart is more diverse since they need to control multicultural organizations and plan for their future investments. Management accounting plays an important role at multinational organizations like Walmart. Following is the ways through which the management at Walmart utilizes the management accounting concepts: 1. ...