Question

Scope of management accounting and its advantages and limitations

Answer 1

Explanation:

Though cost accounting came into existence to remove the limitations of financial accounting but its scope as compared to management accounting is limited as it deals primarily with the cost data. Rather accounting helps in forecasting, planning and controlling the business events and taking managerial decisions.

Answer 2

Management. They may be outlined as follows: Importance: The following advantages offered by marketing research show its importance: Facilitates planned production: Discovery of causes of consumer's resistance: Correction of defects: Reveals the nature