Management accounting deals with the preparation of reports that provide accurate and timely financial data to enable the managers make effective day-to-day decisions.

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Management Accounting
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Definition
Management accounting deals with the
preparation of reports that provide
accurate and timely financial data to
enable the managers make effective day-
to-day decisions.

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Features
• Under management accounting, weekly or
monthly reports are generated for a company’s
internal audience.
• Information availed through management
accounting is primarily forward looking

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Benefits
• A company can determine its goals and
the means to achieve them.
• The management is also able to find out
the deviations between standard and
actual costs.
• The company is also able to assess the
past trade cycle based on the information
received.

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