Sunday, June 22, 2008

management accounting and its importance

Q:- What is management accounting .What are the scope , nature , function & importance and limitation of management accounting .?

Ans . Management accounting is an art of work done through other and accounting is art of recording , classification and summarising the business transaction .

1 According to me ,” Management accounting is concept with accounting information that is useful to management .”

Characteristics /function /use/ objects /Importance

  • Proper planning through providing accounting information
  • Controlling through cause and effect analysis
  • Use of special techniques and concepts
  • Taking some important decisions
  • provide information
  • Helpful in organizing
  • increasing efficiency
  • helpful in communication
  • helpful in co-ordination
  • helpful in forecasting

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