What are Management Accounts?
Management accounting or managerial accounting is concerned with provisions and use of
accounting information to managers within organisations, to provide them with the basis to
make informed business decisions that will allow...
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What are Management Accounts?
Management accounting or managerial accounting is concerned with provisions and use of
accounting information to managers within organisations, to provide them with the basis to
make informed business decisions that will allow them to be better equipped in their
management and control features.
In contrast to financial accountancy information, management accounting information is:
• Designed and intended for use by managers within the organisation, 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 system, instead of by reference to general financial accounting standards.
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