Inroduction to management accounting
Management accounting is the process of identifying, measuring, analyzing, and communicating financial and non-financial information to assist managers in fulfilling organizational objectives. It provides information to internal managers for decision making and involves forecasting, increasing efficiency, using techniques and concepts, and achieving objectives. The scope of management accounting includes financial accounting, cost accounting, budgeting, forecasting, statistical methods, interpreting data, reporting, internal auditing, and tax accounting. Its objectives are planning, helping with interpretation, decision making, motivating, controlling, reporting, motivating, and organizing. Functions include modifying data, planning, financial analysis, communication, using qualitative information, decision making, and coordinating. Advantages are decision making, planning, controlling operations
Inroduction to management accounting
- 1. Introduction to Management Accounting M VADIVEL B.COM – PA
- 3. Meaning and Definition of Management Accounting Management accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of information that assists executives in fulfilling organizational objectives.
- 4. Management Accounting is the provision of financial and non-financial decision-making information to managers. Management accounting also is known as managerial accounting and It can be defined as a process of providing financial information and resources to the managers in decision making. Management accounting is only used by the internal team of the organization.
- 5. Nature or Characteristics of Management Accounting Forecasting Increase in efficiency Techniques and concepts Achieving of objectives
- 8. Scope of Management Accounting Financial accounting Cost accounting Budgeting and forecasting Statistical methods Interpretation of data Reporting Internal Audit Tax Accounting
- 12. Objectives of Management Accounting 1. Planning and policy formulation 2. Help in the interpretation process 3. Helps in decision making 4. Motivating 5. Controlling 6. Reporting 7. Motivating 8. Helps in organizing 9. Coordinating operations
- 16. Functions of Management Accounting Modification of data Planning and forecasting Financial analysis and interpretation Communication Use of qualitative information Decision making Coordinating
- 20. Advantages of Management Accounting • Decision Making • Planning • Controlling business operations • Organizing • Understanding financial data • Identifying business problem areas
- 21. Thank you…..