Course : Managerial Accounting_Discussion8

Week 8 Discussion Forum

Evaluate Your Learning Outcomes (Course name- Managerial Accounting)

Write a critical evaluation of your learning outcome. In your response, consider:

1. Your managerial accounting skills/knowledge prior to taking this class

2. Based on the course content, discuss the new skills you acquired from this class? How relevant are the new skills in your profession?

3. How would you apply your new knowledge?

Instructions:

1.Completed the above assignment by over 400 words and references.

2.Read and respond to at least 3 of your classmates' posts. (Below posted my classmate discussions) Read a selection of your colleagues' postings. Respond to at least 3 of your classmates’ posts. (Each response should be 150 words.

3. No Plagiarism. Turnitin report is needed.

Classmate Discussion 1:

Managerial accounting is a fundamental course that equipped with vast knowledge concerning matters accounting, economics and market dynamics (Cochrane, 2017). The course has a multi-disciplinary approach towards critical issues concerning the economy and how a business organization can apply economic principles and theories in managerial decision making. The course stresses the importance of business organization to be keen on the micro and macro-economic changes than directly affect the organization and how to solve them adequately. The following are the key things that I learned from the course.

First is that I learned about the micro and macro-economic factors that affect business organizations (Rubin & Dnes, 2018). It is quite inevitable for business organizations to face market and economic challenges. However, the important thing is what at business organizations to curb these problems and ensure that their processes and activities continue uninterrupted. I gained knowledge of how economic theories and concepts can be applied to help a business organization solve their problems adequately and be successful in the long run.

Secondly is that I learned about the various market structures and the factors that catalyze their emergence (Cochrane, 2017). Business organizations need to do extensive and intense scrutiny of the environment they operate in so that they can come up with a strategic plan on how to do their activities. I learned how information concerning the dynamics of the market could be used by managers to arrive at sound decisions concerning the organization. Thirdly is that I gained insights on how the government and other critical stakeholders in the market influence how business organizations operate. The government plays a very vital role in establishing a stable and functional environment for business organizations to operate and to attract investors. Additionally, the government can lead to the emergence of some market structures like the monopoly if they decide to give the license of operation to specific companies only.

Classmate Discussion 2:

Learning outcomes are primarily centered on the pupils. Learning outcomes had been obtained from the training results of a task that was done as opposed to the task. Learning outcomes will likely be ideal for showing the values of an organization. Effective results being learning additionally be considered combined with goals, objectives, and aims associated with the organization. These results provide these with additionally the point of graduate characteristics at the courses. Managerial accountants may have abilities that can be numerous abilities through which they'll increase the organization. The managers have the ability to make decisions that will assist the company in withstanding in the entire world competitive and principal areas with all the use of abilities of accounting. These elements are of help for dedication associated with the price that is optimal for the product. The relevant skills being primary is supposed to be contained in the managerial accountant are considering the general earnings for the services and products that have been being supplied through their company (Mukherjee et al., 2016).

 Management Accountant accounts for supplying the appropriate information that is financial in change may help in managerial preparation and decision making of commercial tasks by undertaking the management of reports. These management accountants will advise and assist the managers of the company in regard to the implications which are financial may be taken place in business decisions. There are numerous duties for the managers who were in managerial accountant work. They're like planning of statements about the financial, spending plans and commentaries, management, and growth of financial systems. The management accountants have the effect of doing the activities that may guarantee the security that is financial will manage all of the financial things. Management accountant is definitely a figure that is essential will figure out the price of success and status associated with the company. Some management accountant may be promoted to being a certified management accountant with an increase of concentrate on cost accounting. The duties of the management accountant is going to be diverse with all the ongoing organizations and amount of experience. The most popular duties of the management accountant will probably be like cost management, managing fees, and management of assets which is ideal for the dedication of great benefit packages. They shall additionally be in a position to aid in strategic preparation (Murthy & Rooney, 2018).

Classmate Discussion 3:

Learning Outcomes

Strategic management is the planning and assessment that is required to meet the goals. Emerging technologies are used to making decisions strategically. This process helps the company and estimate the present or current situation of the company of implemented strategies. This process also involves business decisions. Strategic management has to analyze the internal and external environment. Have to formulate and execute the plan actions. If desired results are not produced, then evaluating the action plans have been successful. Strategic management totally represents the organization's abilities to meet short and long-term goals or targets. They create a vision to develop strategic plans (Bayati & et al, 2015).

To helps to identify the allocation resources. Managerial is the responsibility of the management. It is the process of identification and measurement and making decision activities of an organization. It is worried about providing information to the managers who are boosted by directing and planning and controlling a different variety of decisions. Mainly it can be restricted by the financial accounting that is involved with provided information and financial statements to the organization.  The operational team members make an effort to balance costs to achieve the highest operating profit possible. Operational managers obtain and develop and deliver goods to the client. It was based on the needs of the client and the capabilities of companies. They can handle different types of strategic plans and issues including project methods and information technology structures (Mukherjee & et al, 2016).

The other type of management is one of the valuable equipment of information action. These days communication technology is used as more powerful to improve the quality and efficiency of employees. In the organization, powerful resources are commonly used to build a power base and develop others. The aim of the strategic and managerial in information technology is to identify the important criteria of the job empowerment. In fast data collection, the information technology model plays an important role. The managers who are in the first level should not set any goals in an organization. They interact with employees on a daily basis and if the managers perform poorly in any type of management then employees may perform poorly (Prenc & et al, 2015).