Functions (or objectives) of Management Accounting
Main functions of Management Accounting are as follows: Planning – Information and date provided by management accounting helps management to forecast and prepare short-term and...
Management Accounting
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Characteristics or Nature of Management Accounting
The task of management accounting involves furnishing of accounting data to the management for basing its decisions on it. It also helps, in improving efficiency...
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Scope Of Management Accounting
Financial Accounting: Financial Accounting deals with the historical data. The recorded facts about an organization are useful for planning the future course of action. Though...
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Relationship between Financial Accounting and Management Accounting
Financial accounting and management accounting are two major sub-systems of accounting information system. Both are concerned with revenues and expenses, assets and liabilities and cash...
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Relationship between Cost Accounting and Management Accounting
The distinction between cost accounting and management accounting may be made on the following points: Basis Cost Accounting Management Accounting 1. Scope Scope of cost...
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The Management Accountant
Management accounting provides significant economic and financial data to the Management and the Management Accountant is the channel through which this information efficiently and effectively...
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Functions of the Management Accountant
It is the duty of the management accountant to keep all levels of management informed of their real position. He has, therefore, varied functions to...
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Responsibility Accounting
Responsibility Accounting describes the decentralisation of authority with performance of the decentralised units measured in terms of accounting results. Responsibility Accounting recognises various decision...
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Investment centre
Investment centre: ‘a profit centre in which inputs are measured in terms of expenses and outputs are measured in terms of revenues and in which...
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Profit centre
Profit centre: ‘a segment of the business entity by which both revenues are received and expenditures are caused or controlled, such revenues and expenditure being...