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MANAGERIAL ACCOUNTING.Because organizations exist to achieve some particular purpose, someone must define that purpose and the means for its achievement. Managers are that someone. As

MANAGERIAL ACCOUNTING.Because organizations exist to achieve some particular purpose, someone must define that purpose and the means for its achievement. Managers are that someone. As managers engage in planning, they set goals, establish strategies for achieving those goals, and develop plans to integrate and coordinate activities. Managers are also responsible for arranging and structuring work to accomplish the organization's goals. We call this function organizing. Every organization has people, and a manager's job is to work with and through people to accomplish goals. This is the leading function. The final management function is controlling. After goals and plans are set (planning), tasks and structural arrangements put in place (organizing), and people hired, trained, and motivated (leading), there has to be some evaluation of whether things are going as planned.

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