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Why management accounting is important for organizations

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A student commented that "management accounting is much more relevant and important to profit making organizations compared to non-profit ones (such as governmental institutions) as the existence of the latter is not related to profit making". How would you respond? Give some examples to support your point of view.

Problem 1: In order to convince this student, you need to give some examples about why management accounting is important for all types of organizations (i.e. what are the functions and benefits of management accounting?)

Reference no: EM132832809

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