Managerial accounting supports the management process most significantly by:

Question

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Managerial accounting provides information and analysis to help managers make informed business decisions. It supports the management process most significantly by helping managers identify and achieve goals and measure the degree to which the goals have been accomplished. This is achieved through various tools and techniques such as budgeting, cost analysis, and performance measurement. While measuring and reporting financial results after the fact (option A) is also a function of managerial accounting, it is not the most significant one. Determining goals and objectives of the entity (option B) is typically done at a higher level of management, and while managerial accounting may inform this process, it is not its primary focus. Establishing operating policies (option D) is also a function of managerial accounting, but it is not as significant as helping management achieve goals.

Managerial Accounting Supports the Management Process Most Significantly By