Managerial Accounting Key Terms Find out what management
accounting is all aboutSimply put, managerial accounting is a
process used by an organization's management that allows them to
make informed decisions, set goals and attempt to maximize a
variety of objectives. These objectives may include attaining
greater revenues, increasing customer satisfaction and
decreasing costs. Management accounting information is kept
within the organization; this is the major difference between
financial accounting and managerial accounting. Since different
organizations have different goals, managers will have to apply
their general knowledge of managerial accounting key terms to
their specific duties in the organization. Having that general
knowledge is the basis for all other learning. Consider the
following: 1. Managerial accounting solutions depend in large
part on understanding how the supply chain functions, from start
to finish. 2. Management accounting systems also rely on
knowledge of costs. There is a variety of d