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What is Managerial Accounting?

                Managerial accounting is required for most business majors because it introduces students to the basic principles of cost accounting. Unlike more advanced financial accounting, which focuses on the big-picture results of the entire company, managerial accounting is designed to help measure the outcome of specific management decisions. For example, determining the profit margin of a specific product would be considered managerial accounting because it allows management to easily determine which products to discontinue and which to double down on. Determining something like profit margin might seem simple but usually requires multiple formulas and a little bit of math. Students typically need to find the values of each variable, like allocable rent or cost of labor per unit, before plugging them into the final equation. This basic form of accounting can often resemble a math class depending on how it is taught and how well the concepts behind each formula are explained.

Types of Managerial Accounting

                Every class is different, but some of the most common accounting techniques will appear in nearly every course.  That is because some techniques will be universally applicable to anyone managing a business. Such as, turnover analysis helps determine how long employees stay with the company and if hiring strategies need to change. Or, managing accounts receivable which is simply accounting to make sure the company has been paid by everyone who owes it. Another, more advanced, managerial accounting method is determining cash flow, which helps gauge the companies overall financial health by determining if costs are being covered enough to increase net income from month to month.  All these accounting techniques can be boiled down to knowing the right formula to use and knowing a few simpler formulas to determine the value of each variable that is not provided.

How Our Tutors Can Help You

With SolutionInn you can get Managerial Accounting help online so that you do not have to memorize those two dozen formulas without understanding the meaning behind them! A Managerial Accounting tutor can help you interpret each accounting technique so that you know how and why it is used, this helps you determine how to find each variable on your own. For instance, product costing, which was discussed above, seeks to determine the aggregate value of each product by adding the allocable labor, materials, consumables, and overhead. Thinking of the problem as an equation might seem difficult, but first step is just to know what each variable means and how to find it with a separate equation. With a Managerial Accounting tutor online, you can get help from someone who works with these sorts of equations every day. This way you understand every formula’s purpose and know why each variable in that formula needs to be there. Don’t be scared off by complicated math in a business class, Managerial Accounting help online will save you time and make sure you are studying effectively!

How to hire a Managerial Accounting tutor on SolutionInn

                With SolutionInn’s tutoring platform you can find a great Managerial Accounting tutor online without having to search “Managerial Accounting near me” only to pay exorbitant industry prices for in-person help. On our platform, you only need to select a tutor from the list by clicking on their name or picture. This will take you to the tutor’s page you can see their educational background, work experience, and list of subjects, along with a brief description of who they are and why they started tutoring. If you think the tutor is a good match for you just click the green contact button on the righthand side of their profile page and send them a message. Set the subject of the message to managerial accounting, or whichever specific subject you need help with, and write a description of the sorts of questions you have, attaching examples if you have them. Once you are done hit post question and wait to hear back! If you are in a rush make sure to keep the “allow other relevant tutors to answer my question” box checked, this way if another managerial accounting tutor can help you faster, they will be able to see your question and reach out.