Explain the scope importance functions and limitations of management accounting
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The Scope of Management accounting is very wide and broad based. It Includes all information, which is provided to the management for financial analysis and interpretation of the business operation. ... It uses financial data for finding out cost of various job, Product or processes.
Limitations of Management Accounting.
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Lack of objectivity: There are every possibility of personal bias and manipulations from the collection of data to the interpretation stage in financial accounting. Thus, it looses objectivity and validity.
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