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Management accounting
- 1. PRESENTATION ON CONCEPTS OF MANAGEMENT ACCOUNTING Presented By:- ShikhaKaushik(144) Monika Chhillar(180) Presented To:- DR. ANAND SHARMA
- 2. MANAGEMENT ACCOUNTING The Institute of Cost and Works Accountants of India(ICWAI) has defined management accounting as a system of collection and presentation of relevant economic information relating to an enterprise for planning, controlling and decision making.
- 3. CHARACTERISTICS OF MANAGEMENT ACCOUNTING Useful of decision making Financial and cost accounting information Internal use Purely optional Concerned with future Flexibility in presentation of information
- 4. SCOPE OF MANAGEMENT ACCOUNTIING Financial accounting Cost accounting Budgeting and forecasting Tax planning Reporting to management Cost control procedures Statistical tools Internal control and internal audit Financial analysis and interpretation
- 5. FUNCTIONS OF MANAGEMENT ACCOUNTING Planning Coordinating Controlling Communication Financial analysis and interpretation Qualitative information Tax policies Decision making
- 6. LIMITATIONS OF MANAGEMENT ACCOUNTING Based on historical data Lack of wide knowledge Complicated approach Costly system Developing stage Lack of objectivity
- 7. DIFFERENCE BETWEEN FINANCIAL ACCOUNTING AND MANAGEMENT ACCOUNTING