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Management Accounting – Ten Questions Quiz !

Management Accounting

Management accounting is an extension of management aspects of cost accounting. It provides the information to management so that planning, organizing, directing and controlling of business operations can be done in an orderly manner.

Management accounting collects and provides accounting, cost accounting, economic and statistical information to the men at various managerial levels to assist them in the performance of managerial functions and their evaluations. It is the development and application of various techniques of recording, analysis, interpretation and presentation, making the financial, costing, and other data active and effective in the performance of managerial functions, viz., planning, decision-making and control. It should be noted that management accounting makes use of not only accounting techniques but also of statistical and mathematical techniques. Management accounting is forward looking and should, therefore, be able to treat economic information and data to make it suitable for use by the management.

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Comments ( 2 )

  1. […] Considering that managers are making decisions only for their very own organization, there is no need for the details to be comparable to comparable info from various other companies. Instead, details has to be relevant for a certain environment. Cost accounting details is generally used in financial accounting information, however its key feature is for use by facilitate making decisions. Click here for quiz on Management Accounting […]

  2. […] Cost accounting examines the price structure of a company. It does so by accumulating details about the expenses incurred by a company’s activities, appointing selected costs to product or services and various other price objects, and reviewing the efficiency of cost usage. Cost accounting is mostly concerned with developing an understanding of where a company earns and also loses money, and also offering input right into choices to produce earnings in the future.  Click here for Quiz on Management Accounting […]

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