What is meant by management accounting?



Management accounting is the process of providing detailed information to the management on current and planned events. These information assist managers in their role of planning, controlling and making decisions. Usually management accounts are available to internal users of accounting information.  

Management accounting is concerned with the accumulation, classification and interpretation of information that assists individual executives to fulfil organizational objectives.

Management information contain information such as department budgets, product profitability and information on production costs.



Management accounting can also be defined as presentation of accounting information in such a way as to assist the management in creation of policy and the day to day operation of an undertaking

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