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Now lets consider a planningdecision-making problem within the Operations function that can be addressed by MBA graduates through Managerial Accounting As was stated earlier much of a firms Total Costs are attributable to the Operations function These costs are revealed in Financial Accounting documents outlining costs such as the Income Statement Suppose senior management has noticed a decrease in profits for the lemon-lime soda the firm produces By examining the Financial Accounting data they have found an unexpected increase in the cost of lime flavoring that is used because a supplier of the product has gone out of business Here an MBA manager must make a decision about alternative sources available for the flavoring input and as always look to buy it at a lower price Once again Financial Accounting data cost information from the Income Statement has been used by senior managers to solve a planningdecision-making problem within the Operations function In conclusion Managerial Accounting is process MBA graduate managers can use to gain insight into planningdecision-making and employee control The process involves examining Financial Accounting data and then applying that information to maximize Profits through the Marketing and Operations functions Specifically maximizing Revenue in Marketing and minimizing Costs Operationally Managerial Accounting is scientific in its approach rather than intuitive and should be used by MBA graduates interested in maximizing the value of their firm
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