BUS 630 Week 6 Final Paper, Analyze the Role of Managerial Accounting
“Managerial Accounting is the branch of accounting that meets managers’ information needs. Because managerial accounting is designed to assist the firm’s managers in making business decisions, relatively few restrictions are imposed by outside regulatory bodies and generally accepted accounting principles. Therefore, a manager must define which data are relevant for a particular purpose and which are not” (Schneider, 2012). Managerial accounting is an important part of an organization’s setup that guides the managers and helps them to make important financial decisions. It is an important functional area that is conducted in each and every organization and is used to measure, analyze, interpret and communicate information to attain organizational goals…………..Continued (10 Pages with References)
BUS 630 Week 6 Discussion 1, Evaluating Performance
When comparing various divisions within a company, describe what problems can arise from evaluating divisions that have different accounting methods, as described in Chapter 11 of your text. Cite three examples of accounting methods that could cause divisions’ profits to differ.
(Exercise 12-12) Dr. Steve Rosenthal has his own medical practice. He specializes in the treatment of diabetics. His staff consists of a receptionist, two nurses, a lab technician, and a dietitian. As patients enter the outer office, they check in with the receptionist. The patient then waits until called by a nurse. When called, the patient moves from the waiting room to the inner offices. The patient must weigh in and is then assign a room. The nurse assigning the patient to a room gathers all the personal data for updating the medical records, such as insulin dosage, medication, illnesses since last visit, etc. The nurse also takes an initial blood sample for blood sugar testing and performs a blood pressure test.
The patient then waits until the doctor comes in. After the doctor’s conference, the nurse returns to take more blood samples, depending on what is ……by the doctor. The patient then waits until the dietitian comes to review eating habits and talk about how to improve meal planning and weight control. The patient returns to the receptionist to pay for the office visit and to schedule the next visit.