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6 May, 2015 - 17:10

Managerial accounting gives management the information to perform the functions of control and planning. The control function is concerned with the process of directing the operations of an enterprise to achieve its goals. Planning is concerned with developing and setting goals for the use of company resources and formulating methods to achieve these goals. Control and planning decisions are the responsibility of management. The controller of a company gives advice but assumes no responsibility for managerial decisions. Results of management decisions are continuously compared to the goals, and the goals themselves are periodically revised.