Managerial Accounting Case

This course, the managerial accounting which I learn in term, is connected to other different courses I am taking and I can easily relate this knowledge to understand a certain situation and see it in different angles using the lessons I get from the lectures. I could relate it with other courses such as marketing, decision making or even financial management by analyzing and determining the cost, budgeting and predicting the results I could decide which targets to market on and decide how much I could spend on and which alternative will maximize the effect and to get the most optimal result I could get.

It’s a very practical as well as useful knowledge we learn in school. Based on my personal understanding, I think studying managerial accounting is like being a doctor. First, doctors would have to know patient’s statues such as age, gender, weight, height and even about the life-style he/she has and ask about what has happened and after that, they would see the wounds when it’s visible or analyze the illness by looking at those symptoms and cure the wounds or treat the illness with proper medicine by combining all the data above. Just like that, in this course I first learn to analyze what kind of business it is, whether it’s a manufacturing company, selling company or any other type of business and see the past activities and results corresponded from that and analyze the problems whether it’s on surface or hidden under managerial issues and make the final decision using all the data I have got. And just like doctors, we do it with integrity and professionalism and most importantly, we both make some profit out of it.