Management accounting is concerned with accounting information that is useful to management. Discuss how it differs from financial and cost accounting
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Management Accounting: concept, need, importance and scope
Concept: Management accounting is wide arena of accounting. The phrase Management Accounting includes two words, Management and Accounting. It refers to Accounting for the Management. Management accounting is the procedure to develop management reports and accounts that present precise and timely financial and statistical information required by managers to make day-to-day and short-term decisions. Management accounting can be seen as accounting associated with management. Basically it is deep study of managerial characteristic of financial accounting, "accounting in relation to management function". It demonstrates how the accounting function can be re-oriented so as to fit it within the structure of management activity.
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Hope this will help you»»»
Here's what I have found»»»
_______________
Management Accounting: concept, need, importance and scope
Concept: Management accounting is wide arena of accounting. The phrase Management Accounting includes two words, Management and Accounting. It refers to Accounting for the Management. Management accounting is the procedure to develop management reports and accounts that present precise and timely financial and statistical information required by managers to make day-to-day and short-term decisions. Management accounting can be seen as accounting associated with management. Basically it is deep study of managerial characteristic of financial accounting, "accounting in relation to management function". It demonstrates how the accounting function can be re-oriented so as to fit it within the structure of management activity.
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Management accounting is concerned with accounting information that is useful to management. Discuss how it differs from financial and cost accounting
Explanation:
- The management accounting also knows as cost accounting is the provision of the accounting information in order to better understand the decision made within the organization.
- It is in the management and the performance control functions and it relates to the financial and the non-financial decisions that are taken by managers and according to the charters institute of the management of accounting its the analysis information in a business strategy to drive sustainable success.
- While in the financial accounting includes the shareholders, the creditors, and public regulators and the information is historical and is computed by reference to general financial accounting standards, rather than on the needs of managers.
Know more about the management accounting is concerned with accounting information that is useful to management discuss how is differs firm the cost accounting.
- https://brainly.in/question/6061367 answered by Shivshankaranupa19po
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