Management accounting is the presenting of accounting data in a way that helps management develop policies and operate an enterprise on a daily basis. As a result, it has to do with how accounting information obtained with the aid of cost accounting and financial accounting is used by management to formulate policy, plan, monitor, and make decisions. Management accounting connects management with accounting since it covers all accounting information needed for making managerial choices. Making decisions for the implementation of future plans is the focus of management accounting. Future prediction and forecasting are involved in this. Setting goals and planning are made easier by it. The field of management accounting has a fairly broad application. See this Powerpoint for more information.

Jincy Anna Joy

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