What is Management Accounting

What is Management Accounting


Although financial accounting is perhaps the most important type of accounting there are
other types like management accounting that are as important.
So that you can learn about accounting.
Today’s post is looking at what is management accounting.

Management Accounting

Management accounting is the process of preparing and providing up-to-date financial information to the managers of an entity.
The information should assist and support managers in making usual everyday decisions
as well as decisions for the short term.
In contrast to financial accounting, there is no legal requirement for an entity to provide
documents related to management accounting.
Another key difference is that management accounting has no standards or formats that
need to be followed.

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