The Managerial Accounting Practices of Southwest Airlines

The Managerial Accounting Practices of Southwest Airlines

The Managerial Accounting Practices of Southwest Airlines

Managerial accounting, also referred to as cost accounting, is defined as the accounting process that entails identifying and quantifying information, followed by analysis, interpretation and communication of the same for organization’s goal pursuit. In other terms, managerial accounting is the process in which managers are concerned with the preparation of accounts, budgets, executive reports and statistics, performance reports and other financial information, coupled with the accurate and timely provision of the information for decision making and daily operations.

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There are many more interesting trends in the company’s managerial accounting practices, making it to continue enjoying a competitive advantage even in low cost operations. With these attributes and trends, and the perpetual innovativeness of the company’s managerial personnel, Southwest Airlines is anticipated to propagate its dominance in the airline industries for many decades.

References
AQPQ. (16 February, 2009). Variance analysis: whom to blame at southwest?. AQPQ. Retrieved
01 October, 2014, from http://aqpq.org/2009/02/16/variance-analysis-any-one-to-blame-at-southwest-airlines/

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