Describe the role of managerial accounting in contemporary business. Provide one specific, real-life example of how managerial accounting helps managers improve operational and financial performance. Also, describe the role of federal taxes, the state of the economy, and financial market outlook plays in short-term business decisions.

Your paper must be formatted according to APA 6th edition guidelines, and you need to use at least three external (i.e. not the textbook) references. Save your file as "LastnameFirstinitial-ACCT101-8."

Submit your work by midnight ET on Day 7 (Sunday).

Note that your attached paper will automatically be submitted to Turnitin, and an Originality Report should be sent back to the classroom within around 15 minutes. The Originality report does not actually recommend changes. It does point out where you may need to add a citation or quotation marks (if not already cited). Once you use it a few times, you will appreciate this tool, as it will assist you in improving quality and content, as well as avoid plagiarism. Your goal is to keep direct quotations to a minimum and to make sure that you do not just cut and paste material. Ensure that all your references are cited. A report with a similarity index less than 25% is acceptable for undergraduate level work.