Now Business Today needManagement Accounting
September 15, 2009
Management Accounting is the new form of the accounting mainly concern the management related information’s. It is also called the Financial Management. It includes the administration and maintenance of financial assets. Besides, financial management covers the process of identifying and managing risks. Management Accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation and communication of information used by management to plan, evaluate and control within an entity and to assure appropriate use of and accountability for its Resource.
Financial Management is concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions. Management accounting also comprises the preparation of financial reports for non-management groups such as shareholders, creditors, regulatory agencies and tax authorities. Read more