Managerial accounting concepts that are beneficial to the internal operations and control of a firm. Managerial accounting is focused on the internal view of the firm with the goal of providing metrics and reporting that can be used by management to drive the firm to a more effective and efficient operations in the future.

1. How do we derive standard costs (what is the basis)?

2. How would you describe the value of standard costs?

3. How would you proliferate standard costs throughout your organization and what type of follow-u would you expect for tge finance people in the field?