As Canadian firms focus on cutting costs in order to stay competitive with producers in low-wage countries,________ will gain importance.

Question

Quizplus · Accepted Answer

Managerial accounting involves analyzing and providing data for internal decision making, including cost analysis and budgeting. As Canadian firms focus on reducing costs to compete with low-wage countries, they will need to rely more heavily on managerial accounting to make informed decisions on where to cut costs and optimize their operations.

As Canadian Firms Focus on Cutting Costs in Order to Stay