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Management Accounting |
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Description of Management Accounting. Explanation. |
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.
Compare also: Corporate Performance Management |
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More Management Methods, Models and Theory | Return to Management Dictionary | |
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End of description Management Accounting. An explanation. |
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