Marketing Management
HomeIntroduction to Management Accounting ConceptsManagement AccountingManagement accounting is concerned with preparation and presentation of accounting information in such a way that will assist the management in taking various managerial decisions.Objective of Management AccountingPlanning & Policy FormulationHelps in InterpretationEnabling decision makingHelps in controllingHelps in OrganinsingHelpful in CoordinationUses of Qualitative informationMeans of CoordinationFeatures of Management AccountingBased on Accounting InformationCause and Effect Relationship ForecastingNo fixed rulesUse of Special TechniquesIncreasing Efficiency Assist ManagementHelps in achieving ObjectiveScope of Management AccountingFinancial AccountingCost AccountingBudgeting and Forecasting Financial ManagementManagement ReportingTax PlanningInventory ControlInternal AuditFunction of Management AccountingPlanning and ForecastingModification of DataAnalysis & InterpretationFacilitates CommunicationEnsures CoordinationManagerial ControlDecision MakingUse of Qualitative Importance of Management AccountingIncrease Efficiency Helps in Proper PlanningEffective ControlMinimizing WastageMaximizing ProfitabilityBetter Service to CustomersFacilitates Communication and CoordinationBetter Relationship with Employee Limitation of Management AccountingLimitation of Basic RecordBased on Historical DataLack of knowledgePersonal BiasManagement Accounting is Only a ToolCostly InstallationEvolutionary StageResistance to ChangeFinancial Accounting Vs. Management AccountingObjectiveNature of DataSubject MatterLegal CompulsionAccounting PrincipleTime PeriodPublicationAuditingPreparationCost Accounting Vs. Management Accounting ObjectiveNature of DataPrinciplesData UsedEvolutionScopePreparation Interested PartiesApproach ................
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