Management Accounting : Financial And Non Financial Information

1120 WordsOct 6, 20155 Pages
INTRODUCTION:- Management Accounting refers to the preparation of financial and non-financial information for the use of management of the company. It is also termed as managerial accounting. The information provided by it is helpful in making policies and strategies, budgeting,, forecasting future plans, making comparisons and evaluating performance of the management. The reports produced by management accounting are used by the internal management (managers and employees) of the organization and so they are not reported at the end of the financial year. Although bookkeeping can be traced back to the thirteenth century, accounting historians place the origin of management accounting around 1812.Around this time, material plants started to perform numerous procedures inside the association that had beforehand been performed outside the organization by free skilled workers. This disguise of procedures, for example, turning, weaving and get together made a requirement for deciding the expense of performing these exercises inside the organization. From this humble starting, Management bookkeeping has developed into an element and critical, albeit questionable piece of business and financial aspects. Thus, this control gives numerous awesome chances to understudies who look for vocations in bookkeeping and different territories of administration. Managerial accounting procedures are intended primarily to supply knowledge to decision makers within an organization. Financial
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