Objectives Of Management Accounting:
The basic objective of Management Accounting is to assist the management in carrying out its duties efficiently.
The objectives of Management Accounting are:
- The compilation of plans and budgets covering all aspects of the business e.g., production, selling, distribution research and finance.
- The systematic allocation of responsibilities for implementation of plans and budgets.
- The organization for providing opportunities and facilities for performing responsibilities.
- The analysis of all transactions, financial and physical, to enable effective comparisons to be made between the forecasts made and actual performance.
- The presentations to management, at frequent intervals, of up-to-date information in the form of operating statements.
- The statistical interpretation of such statements in a manner which will be of utmost assistance to management in planning future policy and operation.
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