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1. بسم الله الرحمن الرجيم 1 Managerial accounting L 1

2. Content of the lecture 1. Introduction.

3. Introduction Accounting is the system of recording and keeping track of financial transactions in a business and summarizing this information in reports. These reports provide information to people who are interested in knowing about the financial aspects of a business. The information guides business managers, investors, and creditors in planning and decision making.

4. In fact, accounting is often referred to as “the language of business” because business people communicate, evaluate performance, and determine value using dollars and amounts generated by the accounting process

5. Financial accounting involves producing periodic reports called financial statements to inform such external groups as investors, boards of directors, creditors, and government/tax agencies about a company’s financial performance and status. The income statement, retained earnings statement, balance sheet, and statement of cash flows are published at fixed intervals to summarize the historical earnings performance and current financial position of a company.

6. Managerial accounting managerial accounting is the identification, compilation, as well as analysis and explanation of all financial information. It helps facilitate management through planning and control processes and helps in making all decisions. managerial accounting is in the form of copies of paper files or through an electronic accounting program. Managerial accounting tools are used by management to plan, control, and evaluate business operations and to make internal business decisions.

7.   managerial accounting is often done by a management accountant to help manage the company's assets, as well as taxes and employee salaries  Basics of managerial accounting

8. The basics of managerial accounting are a number of different accounting systems that help in recording various economic activities in a number of records. The most important of these foundations are the following:

9. The basics of managerial accounting  1. A good Managerial system: It is concerned with the effective participation of various human elements to implement administrative processes in a correct and organized manner. 2Organizational structure: It is a structure concerned with providing administrative assistance in order to implement planning for various projects. 3. Statistical foundations: It is a number of foundations that are based on integrating managerial accounting as well as statistics, which is very important information to help implement various administrative processes.

10. Objectives of managerial accounting  As for the objectives of managerial accounting, they are diverse, the most important of which are: 1. Making all decisions related to all financial as well as administrative aspects after conducting the necessary analyzes of current and old data to reach the correct decisions. 2. Ensuring knowledge of all the necessary data while providing the best methods for analyzing this data. Managerial accounting has a wonderful role in organizing and monitoring all existing operations in the company.

11. 3. Help In providing the best set of correct information in order to reduce failure or a wrong decision. Reducing the amount of losses. 4. Helping employees achieve their goals in the company. 5. Helping in solving various problems before they occur in a wonderful way managerial accounting methods

12. Managerial accounting methods There are a different group of managerial accounting methods, including the following:   1. Budgeting method: It is a digital expression of various administrative plans and programs related to all operations with expectations of results. 2. Planning sales and profits through break-even analysis: Break-even analysis is the volume of sales in the company, which is equal to the costs. In the absence of a break-even, it indicates The company suffers a loss.

13. Characteristics of managerial accounting 1. knowing the standard cost as well as the budget, along with identifying all marginal costs. 2. Making decisions: The company’s management is provided with all appropriate data related to the old financial periods so that decisions can be made easily. 3. Non-compliance with laws: managerial accounting is only concerned with information. The important ones that help in making the right decisions and do not care about other laws 4. Achieving goals: managerial accounting sets a set of standards according to the company’s old financial periods in order to achieve the best possible performance of the company through a set of standards

14. Principles of managerial accounting  1. Measurement and comparison. 2.Precaution: By reviewing all reports and data that are submitted to the company’s managerial accountant and not accepting the results without review. 3. Objectivity: What is meant here is the presence of a group of Accurate information that is not related to any personal opinions at all. 4. Dealing at the administrative level: helping in making the right decisions in managing the company.

15. Types of managerial accounting  1. Financial planning. 2. Budget control. 3.Constraint analysis. 4. Accounts receivable management: The various invoices due are paid from the profit, with a report made of all invoices and their dates to facilitate payment. 5. Inventory turnover rate analysis.