Management accounting



The main purpose of management accounting is to provide information to the management team at all levels within the organisation for the following purposes:


(a)        formulating the policies – strategic planning


(b)        planning the activities of the organisation – corporate planning


(c)        controlling the activities of the organisation


(d)       decision-making – long-term and tactical


(e)        performance appraisal at strategic and operational level


Definition: Management accounting is the application of professional knowledge and skill in the preparation and presentation of accounting information in such a way as to assist management in the formulation of policies and in planning and controlling the operations of the organisation.

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