Get premium membership and access questions with answers, video lessons as well as revision papers.

Discuss the term "Management Accounting"

Answers

- Management accounting is defined as: The application of professional knowledge and skill in the preparation and presentation of accounting information in such a way as to assist management in the formulation of policies and in the planning and control of operations of the undertaking.
- The provision of information required by management for such purposes such as:
a) Formulation of policies
b) Planning and controlling the activities of the enterprise
c) Decision taking on alternative courses of action
d) Disclosure to those external to the entity
e) Disclosure to employees
f) Safeguarding assets
- Management accounting uses both financial and cost information to advise management in planning and controlling the organization. The objectives of the various facets of accounting have been given above and differences. And the differences discussed. However, it must be realized that all form part of the financial information system of an organization and in many organizations the various facets are totally integrated with no artificial divisions between them.

Wilfykil answered the question on August 5, 2019 at 06:48

Next: Kiimbo ni nini? Huku ukibainisha matumizi ya kiimbo tunga sentensi mbili.
Previous: Andika sentensi ifuatayo katika usemi wa taarifa “Nitaleta mzazi kesho na nitamwimbia wimbo huu hapa.” Bushonga alisema.

View More Capital Structure and Financial Management Questions and Answers | Return to Questions Index

Learn High School English on YouTube

Discuss the term "Management Accounting"

Answers

Related Questions