The Institute of Chartered Accountants of England states “Any form of accounting which enables a business to be conducted more efficiently can be regarded as management accounting”.
“Management Accounting may be defined as the application of accounting techniques to the provisions of information designed to assist all levels of management in planning and controlling the activities of the firm”.
The Institute of Cost and Works Accountants of India defines Management Accounting as “a system of collection and presentation of relevant economic information relating to an enterprise for planning, controlling and decision-making”
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