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Accounting 2102: Comprehensive Final Exam Study Guide Tuesday, April 12, 2016 23:09 Chapter 1 1 Understand the benefits of managerial accounting. Managerial accounting is the general generation of relevant information to support managers strategic decision making. Objectives of Managerial Accounting: 1. Planning: longer term and often referred to as "strategic" planning establishes an organizations wants. Short term wise planning is "organizational" and translate long term planning into something that will be handled within the year. 2. Controlling and evaluating: after the plans have been established then manager