Management accounting is the process of analyzing business costs and operations to prepare internal reports and records to aid managers' decision-making. It involves collecting accounting information using financial and cost accounting and translating it into useful information for management. The objectives of management accounting include measuring performance, assessing risk, allocating resources, and presenting financial statements. It uses tools like budgeting, variance analysis, and cash flow analysis to help managers with planning, decision-making, and control.
This presentation is made by Toran Lal Verma. Meaning, nature, and scope of Financial Management are discussed. scope and objectives of financial management have been discussed along with merits and demerits.
1.1 identify the type of accounting
1.2 difference between Cost Accounting , Cost Accountancy and Costing
1.3 understand the Management information needs
1.4 identify the objectives of cost accounting
1.5 difference between Cost Accounting Vs. Financial Accounting
1.6 identify the role of cost accountant
Management Accounting - Meaning, Definition, Characteristics, Scope, Objectiv...RajaKrishnan M
Meaning Definition Characteristics Scope Objectives and Function Financial accounting and Management accounting - Management accounting and Cost accounting - Cost accounting and Management accounting and Financial accounting - Tools and Technics- Advantages and limitations
This Power point presentation contents all about management accounting,
- Meaning of Management Accounting
-Scope of Management Accounting,
-Objectives of Management Accounting,
-Tools & Techniques for Management Accounting,
-Advantages of Management Accounting,
-Limitations of Management Accounting,
-Difference Between Management Accounting,Cost Accounting & Financial Accounting.
This presentation is made by Toran Lal Verma. Meaning, nature, and scope of Financial Management are discussed. scope and objectives of financial management have been discussed along with merits and demerits.
1.1 identify the type of accounting
1.2 difference between Cost Accounting , Cost Accountancy and Costing
1.3 understand the Management information needs
1.4 identify the objectives of cost accounting
1.5 difference between Cost Accounting Vs. Financial Accounting
1.6 identify the role of cost accountant
Management Accounting - Meaning, Definition, Characteristics, Scope, Objectiv...RajaKrishnan M
Meaning Definition Characteristics Scope Objectives and Function Financial accounting and Management accounting - Management accounting and Cost accounting - Cost accounting and Management accounting and Financial accounting - Tools and Technics- Advantages and limitations
This Power point presentation contents all about management accounting,
- Meaning of Management Accounting
-Scope of Management Accounting,
-Objectives of Management Accounting,
-Tools & Techniques for Management Accounting,
-Advantages of Management Accounting,
-Limitations of Management Accounting,
-Difference Between Management Accounting,Cost Accounting & Financial Accounting.
This ppt covers the following points :-
1. introduction of management accounting
2. Definition of management accounting
3. Nature, objective, tools and techniques, significance and limitations of management accounting
4. difference between financial and management accounting and also includes difference between cost and management accounting
5. management accountant and its roles
6. Management accounting organisation
Cost Accounting-
-Meaning of Cost Accounting
-Scope of Cost Accounting
-Nature of Cost Accounting
-Relationship b/w Financial Accounting & Cost Accounting
-Cost Accounting v/s Management Accounting
-Objectives of cost accounting
-Function of cost accountant
-Essentials of cost accounting
-Advantages of cost accounting
-Limitations of cost accounting
-Role of cost in cost accounting
-Cost Unit & Cost Centre
-Cost Techniques
-Costing Systems
-Costing Methods
-Cost Classification
-Components of total cost
-Cost Sheet.
Presentation on Budget, Budgeting & Budgetary control
Contents:
1) Budgeting [characteristics]
2) Budgetary control
3) Difference in budget, budgeting, budgetary control
4) Essentials in budgetary control
5) Requisites for budgetary control system
6) Merits & limitations
7) Zero-based budgeting
8) Difference in Traditional & Zero based budgeting.
This presentation is about corporate financial reporting and it covers the following topics under it :
- Meaning
- Objectives
- Purpose
- Advantages
- Meaning of Annual Report
- Content of Annual Report
This ppt covers the following points :-
1. introduction of management accounting
2. Definition of management accounting
3. Nature, objective, tools and techniques, significance and limitations of management accounting
4. difference between financial and management accounting and also includes difference between cost and management accounting
5. management accountant and its roles
6. Management accounting organisation
Cost Accounting-
-Meaning of Cost Accounting
-Scope of Cost Accounting
-Nature of Cost Accounting
-Relationship b/w Financial Accounting & Cost Accounting
-Cost Accounting v/s Management Accounting
-Objectives of cost accounting
-Function of cost accountant
-Essentials of cost accounting
-Advantages of cost accounting
-Limitations of cost accounting
-Role of cost in cost accounting
-Cost Unit & Cost Centre
-Cost Techniques
-Costing Systems
-Costing Methods
-Cost Classification
-Components of total cost
-Cost Sheet.
Presentation on Budget, Budgeting & Budgetary control
Contents:
1) Budgeting [characteristics]
2) Budgetary control
3) Difference in budget, budgeting, budgetary control
4) Essentials in budgetary control
5) Requisites for budgetary control system
6) Merits & limitations
7) Zero-based budgeting
8) Difference in Traditional & Zero based budgeting.
This presentation is about corporate financial reporting and it covers the following topics under it :
- Meaning
- Objectives
- Purpose
- Advantages
- Meaning of Annual Report
- Content of Annual Report
Budgeting and Budgetary control – Standard costing and variance analysis: Cost control and cost reduction:
Introduction to cost control – cost reduction- fields covered by cost reduction- tools and techniques for cost reduction
Accounting, Financial Accounting, Objectives of Management Accounting, Cost Accounting, Basic Terminologies in Financial Accounting :, Accounting Concepts and Conventions: TYPES OF ACCOUNTS: Accounting Standards, Accounting for Planning & control
To assist the management in promoting efficiency. Efficiency includes best possible services to customers, investors and employees.
To prepare budgets covering all functions of a business (i.e, production, sales, research and finance).
To analyze monetary and non-monetary transactions.
To compare the actual performance with plan for identifying deviations and their causes.
To interpret financial statement to enable the management to formulate future policies.
To submit to the management at frequent intervals operating statements and short term financial statements.
To arrange for the systematic allocation of responsibilities.
To provide a suitable organization for discharging the responsibilities.
In ordinary language any system of accounting, which assists management in carrying out its functions more efficiently may be termed as management accounting. The Institute of Chartered Accountants of England and Wales has stated that “any form of accounting, which enables a business to be conducted more efficiently can be regarded as Management Accounting.”
Definition and objectives of Management Accounting - Relationship between Cost, Financial and Managerial Accounting. Management Accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of financial information in order to plan the formulation of policies to plan and control the operations of the controlling of business operations, Characteristics of Management Accounting
or
Nature of Management Accounting
or
Features of Management Accounting
Objectives/ Role/ Purpose of Management Accounting. The scope of Management Accounting is wide. All the functions related to finance are included in management accounting. It covers not only the use of financial data and a part of costing theory but may be extended beyond the boundaries of accounting and costing. Functions of Management Accounting
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
1. INTRODUCTION TO MANAGEMENT
ACCOUNTING
SUBMITTED TO : PRESENTED BY:
DR. SUNIL CHIRAG BHARDWAJ
BBA-GENERAL SEC-A
ROLL NO- 150602030
FACULTY OF COMMERCE AND MANAGEMENT , SGT
UNIVERSITY
GURGAON
2. DEFINITION
Management accounting, also called
managerial accounting or cost accounting, is the
process of analyzing business costs and
operations to prepare internal financial report,
records, and account to aid managers’ decision
making process in achieving business goals. In
other words, it is the act of making sense of
financial and costing data and translating that
data into useful information for management
and officers within an organization.
3. MEANING
Management Accounting is the process of
analysis, interpretation and presentation of
accounting information collected with the help
of financial accounting and cost accounting, in
order to assist management in the process of
decision making, creation of policy and day to
day operation of an organization. Thus, it is
clear from the above that the management
accounting is based on financial accounting
and cost accounting.
4. OBJECTIVES
1) Measuring performance: Management accounting measures
two types of performance. First is employee performance and the
second is efficiency measurement. The actual performance is
measured with the standardized performance and a report of
deviation from the standard performance is reported to the
management for the effective decision making and also to indicate
the effectiveness of the methods in use. Both types of performance
management are used to make corrective actions in order to
improve performance.
2) Assess Risk: The aim of management accounting is to assess
risk in order to maximize risk.
3) Allocation of Resources: is an important objective of
Management Accounting.
4) Presentation of various financial statements to the Management.
5. 5). Analysis and interpretation of financial
statement .
6). Planning and policy making.
7). Decision making
8). Controlling
9). Coordinating
10.) Helps in evaluating efficiency and
effectiveness of policies .
6. SCOPE
1. Financial Accounting
Financial accounting forms the basis for analysis and interpretation
for furnishing meaningful data to the management. The control
aspect is based on financial data and performance evaluation, on
recorded facts and figures. So, management accounting is closely
related to financial accounting in many respects.
2.Cost Accounting
Cost accounting is the process and techniques of ascertaining
cost. Planning, decision making and control are the
basic managerial functions. The cost accounting system provides
the necessary tool for carrying out such functions efficiently. The
tools includes standard costing, inventory management, variable
costing etc.
7. 3. Budgeting And Forecasting
Budgeting means expressing the plans, policies and goals
of the firm for a definite period in future. Forecasting on the
other hand, is a prediction of what will happen as a result of a
given set of circumstances. Forecasting is a judgement
whereas the budgeting is an organizational object. These are
useful for management accounting in planning.
4. Inventory Control
Inventory is necessary to control from the time it is acquire
till its final disposal as it involves large sum. For controlling
inventory, management should determine different level of
stock. The inventory control technique will be helpful for
taking managerial decisions
8. 5. Interpretation Of Data
Analysis and interpretation of financial statements are
important part of management accounting. After analyzing the
financial statements, the interpretation is made and the
reports drawn from this analysis are presented to the
management. Interpreting the accounting data to the
authorities in the management is the principal task of
management accounting.
6. Reporting To Management
The interpreted information must be communicated to those
who are interested in it. The report may cover Profit and
Loss Account, Cash Flow and Funds Flow statements etc.
9. Tools and Techniques
Financial Planning:
Financial planning is the act of deciding in advance about
the financial activities necessary for the concern to achieve its
primary objectives. It includes determining both long term and
short term financial objectives of the enterprise, formulating
financial policies and developing the financial procedure to
achieve the objectives.
Analysis of Financial Statements:
The analysis is an attempt to determine the significance and
meaning of the financial statement data so that a forecast
may be made of the prospects for future earnings, ability to
pay interest and debt maturities and profitability of a sound
dividend policy.
10. Standard Costing:
Standard costing is the establishment of standard costs
under most efficient operating conditions, comparison of
actual with the standard, calculation and analysis of variance,
in order to know the reasons and to pinpoint the responsibility
and to take remedial action so that adverse things may not
happen again. This aspect is necessary to have cost control.
Budgetary Control:
The management accountant uses the tool of budgetary
control for planning and control of the various activities of the
business. Budgetary control is an important technique of
directing business operations in a desired direction, i.e.,
achieves a satisfactory return on investment.
11. Marginal Costing:
The management accountant uses the technique of
marginal costing, differential costing and break even analysis
for cost control, decision-making and profit maximisation.
Funds Flow Statement:
The management accountant uses the technique of funds
flow statement in order to analyse the changes in the
financial position of a business enterprise between two dates.
It tells wherefrom the funds are coming in the business and
how these are being used in the business. It helps a lot in
financial analysis and control, future guidance and
comparative studies.
12. Statistical and Graphical Techniques:
The management accountant uses various statistical and
graphical techniques in order to make the information more
meaningful and presentation of the same in such form so that
it may help the management in decision-making. The
techniques used are Master Chart, Chart of Sales: and
Earnings, Investment Chart, Linear Programming, Statistical
Quality Control, etc.
Cash Flow Statement:
A funds flow statement based on increase or decrease in
working capital is very useful in long-range financial planning.
It is quite possible that there may be sufficient working capital
as revealed by the funds flow statement and still the company
may be unable to meet its current liabilities as and when they
13. ADVANTAGES
Increase Efficiency :
Management accounting increases the efficiency of operation of
company. Everything is done in management accounting with a
scientific system for evaluating and comparing the performance.
With this, we find deviations. We will take promotional decisions on
this basis. Other employees will also be motivated with this because
if their performance will be favourable, they get reward of this. Thus
management accounting increases efficiency.
Maximizing the Profitability :
Using of management accounting's budgetary control and capital
budgeting tool, company can easily succeed to reduce both
operating and capital expenditures. After this, company can reduce
its price and then company will receive super profits.
14. Control of Business's Cash Flow
It is one of important advantage of management accounting
that it can be used for controlling of business's cash flow. We
all know that cash in hand is better than in fixed properties if
there is emergency to pay our loan or debt. So, management
accountant deeply studies from where is money coming and
where is it going. To check on misuse of money will surely
control of business's cash flow.
Business-critical Decisions
To take business - critical decisions, now management
accounting will become more powerful. Global management
accountants are coming for join on one plate-form for taking
all business critical decisions.