Accountancy, asked by zahimalik2, 1 year ago

what is management of accounting

Answers

Answered by astar9
0
In management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions.

Definition



IFAC Definition of enterprise financial management concerning three broad areas: cost accounting; performance evaluation and analysis; planning and decision support. Managerial accounting is associated with higher value, more predictive information.[1]Copyright July 2009, International Federation of Accountants

One simple definition of management accounting is the provision of financial and non-financial decision-making information to managers.[2]

According to the Institute of Management Accountants (IMA): "Management accounting is a profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy".[3]

Management accountants (also called managerial accountants) look at the events that happen in and around a business while considering the needs of the business. From this, data and estimates emerge. Cost accounting is the process of translating these estimates and data into knowledge that will ultimately be used to guide decision

Answered by bharatjindal
1
In the management accounting, by providing
timely information, accounting assists the management in the task of planning ,controlling and decision making also.
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