How to Make Managerial Accounting Reports

Video Transcript

"Hi my name is Shawn Jones, adjunct profession at Argosy University. Today we're talking about how to make managerial reports. First and foremost, you need to understand that managerial reports are used by those within the organization. Those are very different from financial reports, which are used by those who are outside of the organization. Thus, managerial reports are going to be geared more towards future. They include reports such as forecast, budgets, and other statements that help managers and business owners make decisions that will lead their company to where they want them to go. Whereas, financial reports are going to be focused mainly upon past performance. Now while past performance is helpful to try to determine or compare what is going to happen in the future, managerial reports are compiled mainly from information that comes within the management or ERP systems or other data within the company to be able to put those reports together. But the main reports center around forecasting, and budgeting other type of activities or costing reports that can be provided from those managers. For more information about this topic, please visit our website argosy.edu, there you can find our phone number or an address to come and visit our Salt Lake City campus."