Cost and management accounting Management accounting meaning Tools and techniques Characteristics Advantages & disadvantages Differences

1. Under the Guidance of : Mr. SUNDAR B N
Asst. Prof. & Course Co-Ordinator
Post Graduation Studies In Commerce
G.F.G.C For Women Holenarasipura
Presented By :
Shivaranjitha K S
1st M.com

2.  Introduction.
 Meaning and Definitions.
 Tools and Techniques .
 Charecteristics of management accounting.
 Advantages and Disadvantages of management accounting.
 Diference between Cost and Management accounting.
Reference.

3. Cost and Management accounting is a form of accounting that
aims to maximize profit by managing revenues and expences.It
provides data and reports used by managers to inform their srategis
around long-term profit and growth.

4. Cost accounting is the process of classifying, recording
and appropriate allocation of expenditure for the
determination of the costs of products or services, and
for the presentation of suitably arranged data for
purposes of control and guidance of management.

5. Management accounting refers to the
presentation of accounting information in such a
way as to assist management to the creation of
policy and day to day operations of an undertaking.

6.  Financial policy and accounting
 Analysis of financial statements
 Historical cost accounting
 Budgetory control
 Standard costing
 Marginal costing
 Control accounting

7. 1.Supply information
2.Increase in efficiency
3.Techniques and Consepts
4.Cause and effect Analysis
5. No fixed norms
6. Assists Management
7. Achieving of objects
8. Forecasting

8. Advantages
 Decision making
 Helful in Achieving goles
 Help in planning
 Help in controlling
 Help in Analysis work
 Simply Financial
statements
 Comparisions easily
Disadvantages
 Costly
Time consuming
Personal bais
No specific procedure
Dependency at cost
accont

9. BASIS COST ACCOUNTING MANAGEMENT
ACCOUNTING
NATURE It records the
quantitative aspect only.
It records the both
quantitative and
quantitative aspect.
objective It records the cost of
producing a product &
providing a service.
It provide information
to management for
planning & coordination
area It only deals with cost
ascertainment
It is wider in scope as it
includes financial
accounting, budgeting,
taxation, panning etc.

10. Recording of
development
It uses both past and
present figures.
It is focused with the
projection of figures for
future.
development Its development is
related to industrial
revolution.
Its development is
related to the need of
modern business world.
Rules and regulation It follows certain
principles and
procedures for recording
costs of different
products
It does not follow any
specific rules and
regulations.