Final answer:
The processes involved in management accounting include conducting cost/benefit analyses and weighing marginal costs against marginal benefits, supported by a 'T' shaped Cost Benefit Analysis chart.
Step-by-step explanation:
Management accounting or Controlling (CO) encompasses several key processes to monitor and track internal business activities. One such process is conducting a cost/benefit analysis, which assists in decision making by comparing the sacrifices and gains involved in various options. Specifically, this process includes weighing marginal costs—the additional cost incurred by adding one more unit of a product or service—against the marginal benefits acquired through that addition. The use of a Cost Benefit Analysis chart facilitates this process: one segment of the 'T' chart represents costs, covering monetary, effort, and other sacrifices, while the opposite side depicts benefits such as monetary gains, time saved, experiences gained, and overall improvements. This analytical approach directly influences a manager's expectations of the outcomes associated with a particular decision or action.