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Explain Managerial Cost Accounting System

Managerial Cost Accounting System: The organization and processes, whether automated or not, and whether portion of the general ledger or stand-alone, which accumulates and reports constant and trustworthy cost information and performance data from different agency feeder systems. The reported and accumulated data enable management and other fascinated parties to evaluate and build decisions regarding the agency's or segment's ability to enhance operations, safeguard assets, manage its resources, and establish if mission objectives are being fulfill.

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