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.

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 Special Interest Group Special Interest Group (505 members)

Management Accounting Forum   Recent topics   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?...           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 t...           Financial and Management Accounting The purpose of accounting is to provide information that is needed for sound economic decision making. FINANCIAL ACCOUNTING The main p...           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,...

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Compare also: Corporate Performance Management

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