Management Accounting

Definition of Management Accounting as it relates to Business, Accounting Principles, Taxation Principles

Management Accounting refers to the practice of identifying, analyzing, and reporting financial information to support managerial decision-making within an organization. It encompasses the application of accounting principles and taxation principles to budgeting, forecasting, cost analysis, and performance evaluation. Management accountants use a variety of tools and techniques, such as variance analysis, activity-based costing, and strategic planning and control, to provide timely and relevant information to managers for planning, controlling, and monitoring business operations. The ultimate goal of management accounting is to help organizations achieve their objectives by providing actionable insights into financial performance and decision-making.

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External Links

Management accounting - CPA Canada
Management Accounting - Decision-relevant Management Accounting
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