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.
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Compare also:
Corporate Performance Management
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Special Interest Group Leader
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