Management accounting

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Management accounting or managerial accounting 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.

In contrast to financial accountancy information, management accounting information is:

  • designed and intended for use by managers within the organization, instead of being intended for use by shareholders, creditors, and public regulators;
  • usually confidential and used by management, instead of publicly reported;
  • forward-looking, instead of historical;
  • computed by reference to the needs of managers, often using management information systems, instead of by reference to general financial accounting standards.



According to the Chartered Institute of Management Accountants (CIMA), 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 resources. Management accounting also comprises the preparation of financial reports for non-management groups such as shareholders, creditors, regulatory agencies and tax authorities" (CIMA Official Terminology).

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