Management Accounting

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Description of Management Accounting. Explanation.


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Definition Management Accounting. Description.

Management Accounting is the analysis and presentation of financial and allied operating data which help management to carry out its planning, control and administration duties effectively. This involves the use of techniques such as costing, budgetary control, marginal costing, and the preparation of management and financial ratios. It is the design, implementation, and management of the internal systems that support effective decision support, planning, and control over the organization’s value-creating operations.

Management accounting is focused on operations and the value chain, the leading indicators and harbingers of financial results, as opposed to the historical activities of external financial reporting and auditing. It is by nature forward looking and focused on seeking opportunities for growth and improvement.

Management accounting focuses on the real internal economics of the enterprise – creating new business, optimizing existing business processes, and analyzing customer value – that create long-term, sustainable value.

Management Accounting Forum (10 topics) Help
  Do You Need an Accountant for a Start-up Company?
What do you think about the importance of appointing an accountant in the starting phase of a business?
If a business is hardly in the position to bear an accountant load, what can be taken care of by the entrepreneur?
Please give your valu...
  The Meaning of 'Accounting'
What is meant by accounting in your opinion?
Let me make it simple:
- by using 'count' we mean we are counting some money or valuable thing, valuable for a person
- by using 'account' we mean keeping record of all precious documents a...
  Tier 1 and 2 Capital in Banks
What do you think about tier capital in bank? Can you distinguish between tier 1 and tier 2 clearly? We can quote from Basel III. Give me your ideas.:)....
  No Management Accounting...
What will happen if management accounting is not adhered to?...
  New Economy versus Management Accounting
How is management accounting affected by the changes in the economy and the business enviroment?...
  Role of Management Accounting
What was the role of management accounting in the latest financial crisis?...
  Budgeting Traning Materials
Dear colleagues,
I need a budgeting training material to be presented for fresh graduates as training course with case study and examples.
Your quick reply is appreciated....
  Mangement Accounting versus Financial Management
How can we differentiate management accounting from financial management? Thanks for your inputs......
  What is the Meaning of Management Accounting?
It's simple: management accounting is facilitating decision-making using accounting information....
  Profit but Negative Cash Flow
What managerial assessments may you make about an organization that has a profit and a negative cash flow in the same accounting period?...

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