Question

Which of the following steps in the management decision-making process does not generally involve the managerial accountant? Determine possible courses of action. Make the appropriate decision based on relevant data. Prepare internal reports that review the impact of decisions. None of these answers are correct.

Answer 1

Make the appropriate decision based on relevant data.

Step-by-step explanation:

Management involves the control, planning and organization of the affairs of a business firm.

Basically, the management of an organization is saddled with the responsibility of planning, organizing, controlling and staffing within the organization.

The four (4) main management activities are;

I. Organizing

II. Controlling

III. Motivating.

IV. Planning.

Managerial accounting also known as cost accounting is an accounting technique focused on identification, measurement, analyzing, interpretation, and communication of financial information to managers for better decisions making and pursuit of the organization's goals. Thus, it's an accounting system that is used by an organization to report both monetary and nonmonetary information.

In the management decision-making process, making the appropriate decision based on relevant data does not generally involve the managerial accountant.

A managerial accountant is an individual who is saddled with the responsibility of gathering and communication of financial information to managers for better decisions making.