Management accounting
In Management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions.
Definition
One simple definition of management accounting is the provision of financial and non-financial decision-making information to managers.
According to the Institute of Management Accountants (IMA): "Management accounting is a profession that involves partnering in management decision making, devising planning and performance management systems,and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy".
Scope, Practice, and Application
The American Institute of Certified Public Accountants (AICPA) states that management accounting as practice extends to the following three areas:
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