________ gathers, summarizes, and reports on the financial impact of changes to business operations.
A)Managerial accounting
B)Planning
C)Directing
D)Controlling

Question

Quizplus · Accepted Answer

Managerial accounting is the branch of accounting that deals with the collection, analysis, and interpretation of financial data in order to help managers make informed business decisions. One of its key functions is to gather, summarize, and report on the financial impact of changes to business operations. Planning involves setting goals and deciding on the actions needed to achieve those goals, directing involves managing employees and resources to carry out those actions, and controlling involves setting performance standards and monitoring actual performance against those standards. While each of these functions is important, only managerial accounting specifically focuses on measuring the financial impact of business decisions.

________ Gathers, Summarizes, and Reports on the Financial Impact of Changes