Management accounting, Accounting Basics

The advent of management accounting was the subsequently logical step in the developmental method. The practice of utilizing accounting information like a direct aid to management is a fact of the twentieth century, mainly the last 30 to 40 years. The geneses of modern management along with its emphasis on explained information for decision-making give a tremendous impetus to the advance of management accounting.

Management accounting is involved along with the presentation and preparation of accounting and controlling information in a form that helps management in the 'formulation of policies and in decision-making on different matters connected along with routine or non-routine operations of business activity. This is by the techniques of management accounting that the managers are supplied along with information that they require for achieving objectives for that they are accountable. Management accounting has thus moved the focus of accounting from recording and analyzing financial; transactions to utilizing information for decisions influencing the future. This means, management accounting has a very important role to play in extending the horizons of newest business. Whereas the reports emanating from financial accounting are issue to the conceptual framework of accounting, internal reports non-routine or routine are free from these constraints.

Posted Date: 4/2/2013 6:51:14 AM | Location : United States

Related Discussions:- Management accounting, Assignment Help, Ask Question on Management accounting, Get Answer, Expert's Help, Management accounting Discussions

Write discussion on Management accounting
Your posts are moderated
Related Questions
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la

Q. Explain about Cash equivalents? Cash equivalents are highly liquid short-term investments obtained with temporarily idle cash and easily convertible into a known cash amount

Q. What do you understand by Goodwill? Goodwill -- in accounting, difference between what a company pay when it buys theassets of another company and book value of those assets

Q. Explain Accounts payable? Accounts payable are amounts owed to suppliers meant for goods or services purchased on credit. Accounts payable are usually due in 30 or 60 days a

on January 1,20x1,A had 200,000 shares of $5 par value common stock outstanding. On January 15 declared a cash dividend of $0.5 a share

Wyatt and Truett formed a partnership investing $330,000 and $110,000 respectively. Determine their participation in the year''s net income of $420,000 under the following assumpti

Q. Explain accrual basis of accounting? In certain circumstances companies may perhaps use the cash basis for income tax purposes. All through the text we use the accrual basis

An estimated liability: 1. Is an unknown liability of a certain amount. 2. Is a known obligation of an uncertain amount that can be reasonably estimated. 3. Is a liabil

Research the major funds of your state or local government and nonprofit organizations. • What are the major funds of your state or local government, and how do they differ in n

Worthington Company issued 1,000,000 face value, 10% bonds on July 1 2012, when the market rate of interest was 12%. Interest payments are due every July 1 and January 1. Worthin