Every company is impacted by both financial factors and non-financial factors. Explain why management accountants need both.
The primary purpose of managerial accounting is to provide information useful for management decisions. Many of the managerial accounting techniques that you learn will be useful for decisions you make in your everyday life. Provide an example of a personal (everyday life) situation that would benefit from use of capital budgeting technique.
Financial statements are prepared for a range of different business entities. Explain the purpose of accounting information and how this purpose is linked to the needs of stakeholders involved with different entities.
