Mogilny Company paid $135,000 for a machine. The Accumulated DepreciationEquipment account has a balance of $46,500 at the present time. The company could sell the machine today for $150,000. The company president believes that the company has a right to this gain. What does the president mean by this statement? Do you agree?
Chapter 1 Introduction to Managerial Accounting What is Managerial Accounting Managerial accounting provides information that helps managers fulfill their three primary responsibilities: planning, directing, and controlling operations. Integrated throughout all of these responsibilities is decision making. Planning – setting the goals and objectives for the company Directing – overseeing the day to day ops. Controlling – evaluating results Managerial accounting emphasizes relevant information that can be used to make business decisions that will positively impact the future operations of the company. Financial Accounting vs. Managerial Accounting Characteristic Financial A
