From the course: Applying Managerial Accounting
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Types of managerial accounting
From the course: Applying Managerial Accounting
Types of managerial accounting
- When preparing this video, I tried to write down all the types of managerial accounting that I could think of. But before I knew it, the list was huge. And this was without having even had my morning double espresso. It then occurred to me that the reason managerial accounting exists as its own field is because of the dynamic nature in which it is used. Organizations are confronted with problems that need management information every day. But how 'about we learn about the four types that I think add the most value to businesses. And we'll explore each of these further in later videos. Let's go ahead and start with project accounting. On a smaller scale, this is also known as job costing. It is where an organization needs to estimate the cost of something, a body of work, something that has a defined start and end date. For example, this could be say a transport authority that needs to estimate the cost of replacing a…
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