Macroeconomics is a branch of economics that deals with the performance, decision-making, behavior, and structure of the entire economy instead of individual markets. This includes all the national, global, and regional economies. This plays an important role in making a decision and other performance parameters for a global or a country’s economy.
The two main fields that come under macroeconomics are:
- Long term economic growth
- Short-term business cycles
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Is Managerial Accounting Important?
Yes, managerial accounting is very important in any business or start-up that one will ever think of. The other term for managerial accounting is management account which is a procedure of accounting that creates statements, reports, and documents. Its topmost use is that it helps in making wise and intelligent decisions for the business according to the business performance. The foremost use of managerial accounting is for internal purposes. For ex- any sportswear company.
Managerial Accounting – Concepts
Some key concepts that are related to managerial accounting are as follows:
- Costing of a product
- Cost behavior
- Budgeting
- Capital budgeting
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