Management accounting provides accounting information to management for planning, controlling, and decision-making. It assists with formulation of strategies, planning and controlling operations, and selecting the best course of action. Management accounting uses tools like financial statement analysis, budgeting, cost accounting, and statistical analysis to collect and interpret financial data for managers. The goal is to provide relevant information to management to help effectively run the business and make rational decisions.
Management accounting refers to processes and technologies that help managers use resources effectively to add value to an organization. It provides information to managers at all levels to assist with decision-making. Management accounting analyzes administrative actions in terms of costs, prices, and profits to help managers choose between alternatives. It serves as a management information system that facilitates effective management through meaningful reports tailored to managers' needs.
The overall aim of this unit is to introduce the fundamentals of management
accounting which apply to the wider business environment and the organizations
which operate within that environment. Students will explore how management accounting uses financial data to aid planning decisions, and the monitoring and
control of finance within organizations.
Management accounting provides essential financial information and analysis to management for planning, decision-making, and controlling business operations. It includes collecting and reporting data on cost accounting, budgeting, financial performance, taxation, and internal controls. The management accountant modifies and presents this information in a way that helps management evaluate alternatives, communicate goals to different departments, monitor performance, and take corrective actions to maximize profits.
The document defines management accounting and discusses its objectives and advantages. It states that management accounting provides economic information to managers to help achieve organizational goals. It covers areas like planning, decision making, and controlling. The objectives of management accounting include planning, interpretation, decision making, controlling, reporting, organizing operations, and facilitating coordination. Responsibility accounting measures inputs and outputs of responsibility centers like cost centers, profit centers, and investment centers. Budgets and budgetary control involve establishing budgets for functions and divisions and comparing actuals to budgets to take corrective actions. Types of budgets include sales, production, purchase, research and capital expenditure budgets.
Management accounting provides accounting information to management for planning, controlling, and decision-making. It involves analyzing and interpreting financial and non-financial data to assist management in setting reasonable economic objectives and making rational decisions. The scope of management accounting includes financial accounting, cost accounting, forecasting and budgeting, tax planning, internal control, cost control procedures, financial analysis and reporting to management. Its objectives are planning, decision-making, controlling, coordinating, communicating, and evaluating efficiency and effectiveness.
Management accounting provides information to assist managers in planning, directing operations, and controlling the organization. It involves recording, analyzing, and reporting financial and operational data to help managers make informed business decisions. The management accountant's role is to identify, measure, analyze, interpret, and communicate financial and non-financial information relevant for decision-making, planning, and control. Key tools used include budgets, variance analysis, costing techniques, and reports to help managers with tasks like setting objectives, allocating resources, and evaluating performance.
This document discusses management accounting. It defines management accounting as using accounting data to assist management with policymaking, planning, control, and decision-making. The objectives of management accounting include better planning, promoting efficiency, budget preparation, analyzing transactions, and interpreting financial statements. Management accounting is selective in the data it presents, provides data but not decisions, is concerned with the future, and analyzes different variables without set formats. Its merits include measuring performance versus budgets and improving efficiency and relations. Its limitations include relying on other accounting areas and requiring knowledgeable management and large organizations.
Management accounting is an internal accounting system designed to support managers' information needs. It focuses on providing information for costing products and services, continuous improvement, planning, evaluation, controlling, and decision making. Management accounting is not bound by GAAP and produces both financial and non-financial information for internal users such as management. It emphasizes future events and performance at the entity, department, and manager level. Current focuses of management accounting include activity-based management, customer orientation, strategic positioning, value chain analysis, quality management, and a cross-functional perspective. The role of management accountants is one of support to staff functions like production, finance, and internal audit.
Management accounting refers to processes and technologies that help managers use resources effectively to add value to an organization. It provides information to managers at all levels to assist with decision-making. Management accounting analyzes administrative actions in terms of costs, prices, and profits to help managers choose between alternatives. It serves as a management information system that facilitates effective management through meaningful reports tailored to managers' needs.
The overall aim of this unit is to introduce the fundamentals of management
accounting which apply to the wider business environment and the organizations
which operate within that environment. Students will explore how management accounting uses financial data to aid planning decisions, and the monitoring and
control of finance within organizations.
Management accounting provides essential financial information and analysis to management for planning, decision-making, and controlling business operations. It includes collecting and reporting data on cost accounting, budgeting, financial performance, taxation, and internal controls. The management accountant modifies and presents this information in a way that helps management evaluate alternatives, communicate goals to different departments, monitor performance, and take corrective actions to maximize profits.
The document defines management accounting and discusses its objectives and advantages. It states that management accounting provides economic information to managers to help achieve organizational goals. It covers areas like planning, decision making, and controlling. The objectives of management accounting include planning, interpretation, decision making, controlling, reporting, organizing operations, and facilitating coordination. Responsibility accounting measures inputs and outputs of responsibility centers like cost centers, profit centers, and investment centers. Budgets and budgetary control involve establishing budgets for functions and divisions and comparing actuals to budgets to take corrective actions. Types of budgets include sales, production, purchase, research and capital expenditure budgets.
Management accounting provides accounting information to management for planning, controlling, and decision-making. It involves analyzing and interpreting financial and non-financial data to assist management in setting reasonable economic objectives and making rational decisions. The scope of management accounting includes financial accounting, cost accounting, forecasting and budgeting, tax planning, internal control, cost control procedures, financial analysis and reporting to management. Its objectives are planning, decision-making, controlling, coordinating, communicating, and evaluating efficiency and effectiveness.
Management accounting provides information to assist managers in planning, directing operations, and controlling the organization. It involves recording, analyzing, and reporting financial and operational data to help managers make informed business decisions. The management accountant's role is to identify, measure, analyze, interpret, and communicate financial and non-financial information relevant for decision-making, planning, and control. Key tools used include budgets, variance analysis, costing techniques, and reports to help managers with tasks like setting objectives, allocating resources, and evaluating performance.
This document discusses management accounting. It defines management accounting as using accounting data to assist management with policymaking, planning, control, and decision-making. The objectives of management accounting include better planning, promoting efficiency, budget preparation, analyzing transactions, and interpreting financial statements. Management accounting is selective in the data it presents, provides data but not decisions, is concerned with the future, and analyzes different variables without set formats. Its merits include measuring performance versus budgets and improving efficiency and relations. Its limitations include relying on other accounting areas and requiring knowledgeable management and large organizations.
Management accounting is an internal accounting system designed to support managers' information needs. It focuses on providing information for costing products and services, continuous improvement, planning, evaluation, controlling, and decision making. Management accounting is not bound by GAAP and produces both financial and non-financial information for internal users such as management. It emphasizes future events and performance at the entity, department, and manager level. Current focuses of management accounting include activity-based management, customer orientation, strategic positioning, value chain analysis, quality management, and a cross-functional perspective. The role of management accountants is one of support to staff functions like production, finance, and internal audit.
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.
Management accounting assists management in decision making and day-to-day operations by presenting accounting information. It has evolved from a traditional focus on financial markets and securities to incorporate modern techniques like mathematical models and computer technology. Management accounting aims to help with planning, controlling operations, decision making, and reporting financial performance to management. It covers areas like cost accounting, budgets, investments, and management information systems.
Management Accounting - Meaning, Definition and CharacteristicsRajaKrishnan M
Management accounting provides accounting information to assist management in policymaking and day-to-day operations. It links accounting information to management decision making. Management accounting is defined as the system for collecting and presenting relevant economic information for planning, controlling, and decision making. It has both scientific and artistic aspects, quantifying and summarizing financial data while also interpreting the information. The scope of management accounting includes financial accounting, cost accounting, budgeting, inventory control, statistical analysis, and data analysis to aid objectives such as planning, control, and organization.
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.
There are multitudes of scope available in management accounting and moreover it also entails a wide range of aspects of business operations. The primary role of management accounting is to direct, analyze and control various facets of management issues in an organization from accounting point of view.
This document provides an introduction to management accounting. It defines management accounting as accounting that deals with presenting information to management in a systematic way to aid in planning, controlling, and decision-making. The document outlines the scope, objectives, tools, advantages, limitations, and differences between management accounting and financial accounting.
Management accounting provides accounting information to assist management in planning, decision-making, and day-to-day operations. It has a wider scope than financial accounting and focuses on both qualitative and quantitative information for internal users. The objectives of management accounting include planning, controlling performance, decision-making, and interpreting financial data to help management. Some key techniques used in management accounting are budgeting, standard costing, marginal costing, and financial statement analysis.
Management accounting provides information to managers for planning, decision making, performance evaluation, control, and cost management. It uses accounting methods, systems, and techniques to help management maximize profits and minimize losses. The functions of management accounting include planning and forecasting, furnishing information, analysis and interpretation, coordinating, communication, undertaking special studies, and controlling. It helps increase efficiency, set targets, make decisions, fix prices, select product mixes, plan finances, provide reliable tools for business functions, control waste and defects, and communicate between all management levels.
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
Management accounting provides accounting information to managers within organizations to help them make informed business decisions. It involves identifying, measuring, analyzing, and communicating financial and non-financial information. The key functions of management accounting are to modify raw accounting data, interpret financial analyses, and assist with management control through tools like budgeting and performance analysis to evaluate operations and fix issues. Management accounting differs from financial accounting in its focus on internal users, future orientation, and inclusion of both monetary and non-monetary information to support management planning, implementation, and decision-making.
A presentation on management accountingPRIYANKAVP4
This power point presentation related to the topic of management accounting.it involves meaning and definition of management accounting,its characteristics,its scope,basic principles,functions,difference between management accounting and financial accounting, difference between management accounting and cost accounting, relationship of financial management and cost accounting, need and importance of management accounting,limitations of management accounting,tools and techniques of management accounting, meaning of management accountant, functions of management accountant and changing role of management accountant.
Management accounting is the process used by management to plan, evaluate, and control the resources of an organization. It involves identifying, measuring, analyzing, and communicating financial information for internal reporting, decision making, and ensuring accountability. The key objectives of management accounting are to enable profit maximization or loss minimization, assist in decision making and policy formulation, aid in controlling operations, and motivate and interpret financial data for internal and external stakeholders. Some limitations include reliance on data quality, subjective decision making, lack of objectivity in some areas, and high costs of implementation across a wide scope.
This document provides an overview of management accounting concepts including definitions of management accounting, different types of management accounting systems, and management accounting reporting. It includes explanations of cost accounting, budgeting, and how management accounting can be integrated within organizational processes. The document also includes tasks to calculate costs using marginal and absorption costing to prepare an income statement, explain budgeting tools for control, and compare how organizations adapt management accounting systems to respond to financial problems. Overall, the document serves to develop an understanding of management accounting and how various tools and systems can be applied within organizations.
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
This document provides an introduction to management accounting. It defines management accounting as measuring, analyzing, and reporting financial and non-financial information to help managers make decisions to achieve organizational goals. The objectives of management accounting are to assist management in planning, organizing, directing and controlling, and to provide relevant information for decision-making. Management accounting provides data, modifies accounting data for planning and decisions, analyzes and interprets data, facilitates control, and uses qualitative information. It is distinguished from financial accounting in its objectives, analytical focus, data used, treatment of non-monetary factors, and periodicity of reporting. Cost accounting is a part of management accounting that provides source data.
Management accounting involves collecting and analyzing both financial and non-financial information to help managers plan strategies, set goals, and make decisions. It differs from financial accounting in that it is for internal use by management rather than external reporting. Some key tools of management accounting include budgeting, cost accounting, financial analysis, and decision making techniques. The information provided by management accounting aims to increase efficiency, support effective planning and control, and maximize profitability for the organization.
The document discusses management accounting, including its definition, objectives, functions, scope, and limitations. It defines management accounting as the presentation of accounting information to assist management in policymaking and day-to-day operations. The objectives include promoting efficiency, interpreting financial statements, and allocating responsibility. The functions of management accounting include forecasting, organizing, controlling, analysis, and communication. A management accountant assists management by preparing budgets and reports, interpreting financial data, and ensuring compliance.
Management accounting assists managers in planning, organizing, and controlling business operations. It provides accounting data and analysis to help managers make informed decisions. Management accounting focuses on future forecasts and helps evaluate options such as whether to invest in new equipment or acquire another company. Management accountants use tools like ratio analysis and investment appraisal to assess financial performance and identify opportunities to improve and grow the business.
The document describes the key steps in natural language processing including morphological analysis, part-of-speech tagging, lexical processing, syntactic processing, semantic analysis, knowledge representation, discourse analysis, and applications such as machine translation. It outlines techniques for analyzing words, assigning parts of speech, determining word meanings, parsing sentences into syntactic structures, assigning semantic meanings, representing knowledge, analyzing discourse, and translating between languages.
Mobile ad hoc networks (MANETs) are wireless networks without a fixed infrastructure. Each node acts as both a host and a router, forwarding packets for other nodes. MANETs have dynamic topologies as nodes can move freely. They are used in applications like military operations, emergency response, and conferences. Routing in MANETs is challenging due to the dynamic topology. Common routing protocols for MANETs include DSDV, AODV, DSR, and ZRP. DSDV adds sequence numbers to distance vector routing to avoid loops from topology changes. DSR is an on-demand routing protocol where the source determines the complete path to the destination.
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.
Management accounting assists management in decision making and day-to-day operations by presenting accounting information. It has evolved from a traditional focus on financial markets and securities to incorporate modern techniques like mathematical models and computer technology. Management accounting aims to help with planning, controlling operations, decision making, and reporting financial performance to management. It covers areas like cost accounting, budgets, investments, and management information systems.
Management Accounting - Meaning, Definition and CharacteristicsRajaKrishnan M
Management accounting provides accounting information to assist management in policymaking and day-to-day operations. It links accounting information to management decision making. Management accounting is defined as the system for collecting and presenting relevant economic information for planning, controlling, and decision making. It has both scientific and artistic aspects, quantifying and summarizing financial data while also interpreting the information. The scope of management accounting includes financial accounting, cost accounting, budgeting, inventory control, statistical analysis, and data analysis to aid objectives such as planning, control, and organization.
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.
There are multitudes of scope available in management accounting and moreover it also entails a wide range of aspects of business operations. The primary role of management accounting is to direct, analyze and control various facets of management issues in an organization from accounting point of view.
This document provides an introduction to management accounting. It defines management accounting as accounting that deals with presenting information to management in a systematic way to aid in planning, controlling, and decision-making. The document outlines the scope, objectives, tools, advantages, limitations, and differences between management accounting and financial accounting.
Management accounting provides accounting information to assist management in planning, decision-making, and day-to-day operations. It has a wider scope than financial accounting and focuses on both qualitative and quantitative information for internal users. The objectives of management accounting include planning, controlling performance, decision-making, and interpreting financial data to help management. Some key techniques used in management accounting are budgeting, standard costing, marginal costing, and financial statement analysis.
Management accounting provides information to managers for planning, decision making, performance evaluation, control, and cost management. It uses accounting methods, systems, and techniques to help management maximize profits and minimize losses. The functions of management accounting include planning and forecasting, furnishing information, analysis and interpretation, coordinating, communication, undertaking special studies, and controlling. It helps increase efficiency, set targets, make decisions, fix prices, select product mixes, plan finances, provide reliable tools for business functions, control waste and defects, and communicate between all management levels.
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
Management accounting provides accounting information to managers within organizations to help them make informed business decisions. It involves identifying, measuring, analyzing, and communicating financial and non-financial information. The key functions of management accounting are to modify raw accounting data, interpret financial analyses, and assist with management control through tools like budgeting and performance analysis to evaluate operations and fix issues. Management accounting differs from financial accounting in its focus on internal users, future orientation, and inclusion of both monetary and non-monetary information to support management planning, implementation, and decision-making.
A presentation on management accountingPRIYANKAVP4
This power point presentation related to the topic of management accounting.it involves meaning and definition of management accounting,its characteristics,its scope,basic principles,functions,difference between management accounting and financial accounting, difference between management accounting and cost accounting, relationship of financial management and cost accounting, need and importance of management accounting,limitations of management accounting,tools and techniques of management accounting, meaning of management accountant, functions of management accountant and changing role of management accountant.
Management accounting is the process used by management to plan, evaluate, and control the resources of an organization. It involves identifying, measuring, analyzing, and communicating financial information for internal reporting, decision making, and ensuring accountability. The key objectives of management accounting are to enable profit maximization or loss minimization, assist in decision making and policy formulation, aid in controlling operations, and motivate and interpret financial data for internal and external stakeholders. Some limitations include reliance on data quality, subjective decision making, lack of objectivity in some areas, and high costs of implementation across a wide scope.
This document provides an overview of management accounting concepts including definitions of management accounting, different types of management accounting systems, and management accounting reporting. It includes explanations of cost accounting, budgeting, and how management accounting can be integrated within organizational processes. The document also includes tasks to calculate costs using marginal and absorption costing to prepare an income statement, explain budgeting tools for control, and compare how organizations adapt management accounting systems to respond to financial problems. Overall, the document serves to develop an understanding of management accounting and how various tools and systems can be applied within organizations.
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
This document provides an introduction to management accounting. It defines management accounting as measuring, analyzing, and reporting financial and non-financial information to help managers make decisions to achieve organizational goals. The objectives of management accounting are to assist management in planning, organizing, directing and controlling, and to provide relevant information for decision-making. Management accounting provides data, modifies accounting data for planning and decisions, analyzes and interprets data, facilitates control, and uses qualitative information. It is distinguished from financial accounting in its objectives, analytical focus, data used, treatment of non-monetary factors, and periodicity of reporting. Cost accounting is a part of management accounting that provides source data.
Management accounting involves collecting and analyzing both financial and non-financial information to help managers plan strategies, set goals, and make decisions. It differs from financial accounting in that it is for internal use by management rather than external reporting. Some key tools of management accounting include budgeting, cost accounting, financial analysis, and decision making techniques. The information provided by management accounting aims to increase efficiency, support effective planning and control, and maximize profitability for the organization.
The document discusses management accounting, including its definition, objectives, functions, scope, and limitations. It defines management accounting as the presentation of accounting information to assist management in policymaking and day-to-day operations. The objectives include promoting efficiency, interpreting financial statements, and allocating responsibility. The functions of management accounting include forecasting, organizing, controlling, analysis, and communication. A management accountant assists management by preparing budgets and reports, interpreting financial data, and ensuring compliance.
Management accounting assists managers in planning, organizing, and controlling business operations. It provides accounting data and analysis to help managers make informed decisions. Management accounting focuses on future forecasts and helps evaluate options such as whether to invest in new equipment or acquire another company. Management accountants use tools like ratio analysis and investment appraisal to assess financial performance and identify opportunities to improve and grow the business.
The document describes the key steps in natural language processing including morphological analysis, part-of-speech tagging, lexical processing, syntactic processing, semantic analysis, knowledge representation, discourse analysis, and applications such as machine translation. It outlines techniques for analyzing words, assigning parts of speech, determining word meanings, parsing sentences into syntactic structures, assigning semantic meanings, representing knowledge, analyzing discourse, and translating between languages.
Mobile ad hoc networks (MANETs) are wireless networks without a fixed infrastructure. Each node acts as both a host and a router, forwarding packets for other nodes. MANETs have dynamic topologies as nodes can move freely. They are used in applications like military operations, emergency response, and conferences. Routing in MANETs is challenging due to the dynamic topology. Common routing protocols for MANETs include DSDV, AODV, DSR, and ZRP. DSDV adds sequence numbers to distance vector routing to avoid loops from topology changes. DSR is an on-demand routing protocol where the source determines the complete path to the destination.
Mobile IP allows mobile nodes to change their point of attachment to the internet while maintaining ongoing communications. It includes the following key entities:
- Mobile nodes can move between home and foreign networks while keeping their IP address.
- Foreign agents provide services to visiting mobile nodes and advertise care-of addresses for tunneling packets to mobile nodes' current locations.
- The home agent maintains a location registry with mobile nodes' care-of addresses and tunnels packets to their current points of attachment when away from home.
- Dynamic Host Configuration Protocol (DHCP) can be used by mobile nodes to obtain temporary IP addresses at foreign networks to use as their care-of addresses.
The document discusses various transport layer protocols for mobile computing environments:
- Traditional TCP faces problems with high error rates and mobility-induced packet losses in wireless networks. It can lead to severe performance degradation.
- Indirect TCP segments the TCP connection and uses a specialized TCP for the wireless link, isolating wireless errors. But it loses end-to-end semantics.
- Snooping TCP buffers packets near the mobile host and performs local retransmissions transparently. But wireless errors can still propagate to the server.
- Mobile TCP splits the connection and uses different mechanisms on each segment. It chokes the sender window during disconnections to avoid retransmissions and slow starts. This maintains throughput during
This document discusses different mechanisms for data dissemination to mobile devices. It describes push-based mechanisms where data is broadcast from servers to devices without requests. Pull-based mechanisms allow devices to request specific data from servers. Hybrid mechanisms combine push and pull. The document focuses on communication asymmetry in mobile networks and how this impacts efficient data dissemination. It provides examples and classifications of different data delivery approaches for wireless applications.
The document discusses various medium access control (MAC) protocols for wireless networks. It describes challenges with applying carrier sense multiple access with collision detection (CSMA/CD) to wireless networks due to problems like hidden and exposed terminals. It then covers different MAC schemes like space division multiple access (SDMA), frequency division multiple access (FDMA), time division multiple access (TDMA), and code division multiple access (CDMA) that aim to address these challenges. Specific protocols discussed in more detail include Aloha, slotted Aloha, and how TDMA can be used for fixed or dynamic channel allocation.
This document provides an overview of mobile computing and mobile communication systems. It discusses various topics including:
- Guided and unguided signal transmission methods. Guided uses wires/fibers while unguided uses wireless electromagnetic signals.
- Signal propagation frequencies for different transmission standards like FM radio, GSM, UHF. It also discusses antenna types used for transmission and reception of signals.
- Modulation techniques and standards for 1G to 4G mobile systems. 1G supported only voice, while newer standards enable higher data rates and support for data/multimedia. GSM is described as a prominent 2G standard.
- Concepts of mobility including user mobility and device mobility. It also discusses applications and
1. The document discusses the evolution of wireless technologies from 1G to 5G, outlining the key features and drawbacks of each generation.
2. Early generations like 1G provided basic voice calling using analog signals at speeds up to 2.4kbps but had issues like poor battery life and voice quality. 2G introduced digital signals and SMS at speeds up to 64kbps.
3. Later generations such as 3G (144kbps-2Mbps), 4G (100Mbps-1Gbps), and emerging 5G (expected speeds over 1Gbps) have provided significantly higher data speeds and capabilities like video calling, but also face challenges around implementation costs, bandwidth requirements, and
This document provides an overview of management accounting. It defines management accounting as the process of analyzing business costs and operations to prepare internal financial reports and records to aid managerial decision making. Some key points:
- Management accounting focuses on internal reporting for managers, while financial accounting focuses on external reporting.
- Management accounting helps managers with budgeting, decision making, planning, and controlling costs. It provides modified and analyzed financial data to managers.
- An example is given of tasks that would be assigned to a management accountant (budgeting, taxes) vs. a financial accountant (preparing financial statements, cash flows, stockholder equity changes).
- The functions of management accounting include providing data,
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.”
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
This document provides an introduction to management accounting. It defines management accounting as dealing with accounting information to help management plan, control, and make decisions effectively. The scope of management accounting includes financial accounting, cost accounting, forecasting, budgeting, tax planning, internal controls, cost control, financial analysis, reporting to management, and using statistical tools. Objectives include analysis, planning, decision-making, controlling, coordinating, communicating, and evaluating efficiency. Tools used include financial statement analysis, fund flow analysis, budgetary control, and statistical techniques.
Management accounting is a recent term that was coined in the 1950s to describe accounting as an effective management tool. [1] It involves techniques like budgeting, standard costing, and analyzing performance to provide information to assist management with planning, control, and decision making. [2] The objectives of management accounting are to compile plans and budgets, allocate responsibilities, analyze transactions, and present up-to-date financial information to help management evaluate performance and plan for the future. [3] Its scope encompasses financial accounting, cost accounting, budgeting, cost control, statistical analysis, and other areas that provide tools to help managers increase productivity.
Management accounting provides information to assist management in planning, directing, and controlling operations. It involves accounting methods, systems, and techniques used to evaluate past performance and forecast future results. Management accounting helps with decision-making, budgeting, cost control, performance evaluation, and other managerial tasks. It differs from financial accounting in its focus on internal reporting rather than external reporting. The document outlines the objectives, scope, importance, limitations, and differences between management accounting, financial accounting, and cost accounting. It also discusses analysis and interpretation of financial statements.
Management accounting provides accounting information to assist management in planning, controlling, and decision-making. It focuses on the future and internal reporting needs of management rather than the past and external reporting emphasized in financial accounting. Management accounting uses both financial and non-financial quantitative and qualitative data accumulated from financial and cost accounting systems. It involves tasks like financial statement analysis, cash flow analysis, budgeting, variance analysis, and generating customized reports to meet the specific information needs of management for decision-making.
BBA 6th Sem - MODULE I - MANAGEMENT ACCOUNTINGPurbita Mondal
Content:
1. Definition & Meaning
2. Functions of management accountant
3. Financial accounting and management accounting have some inherent differences.
4. Nature of Management Accounting
5. Scope of Management Accounting
This document provides an overview of management accounting. It discusses definitions of management accounting, its scope, need and importance, and limitations. Management accounting provides accounting information to managers for planning, decision making, and control. It helps reduce uncertainty and facilitates the decision making process. The scope of management accounting includes financial accounting, cost accounting, financial management, budgeting, inventory control, reporting, and interpretation of data. Management accounting increases efficiency, enables proper planning and performance measurement, maximizes profitability, and improves customer service through effective management control. However, its effectiveness is limited by the reliability of underlying data, knowledge requirements, time needed for analysis, and human biases.
There are three main streams of accounting:
1) Financial accounting records business transactions and prepares financial statements.
2) Cost accounting classifies and records expenditures to determine costs and facilitate cost control.
3) Management accounting analyzes financial and cost accounting information to assist management with decision making, policy creation, and day-to-day operations. It is based on the other two streams.
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.
Meaning of management accounting & it objectivesDr. Ravneet Kaur
Management accounting is the study of accounting aspects that help management make decisions. It provides tools to help management plan, organize, direct, and control operations. Management accounting modifies and rearranges accounting data to be more useful for decision making through techniques like budgeting, standard costing, and reporting. Its main objectives are to help management perform functions efficiently and make effective decisions.
Bba ii cost and management accounting u 5 management accountingRai University
Management accounting provides internal accounting information to assist management in planning, decision-making, and controlling operations. It identifies, measures, analyzes, interprets, and communicates financial and non-financial information to help the organization achieve its goals. Management accounting focuses on the future and is aimed at helping managers make decisions, while financial accounting provides external reporting focused on the past to parties outside the organization like shareholders and regulators.
Management accounting provides financial information for internal use in planning, decision-making, and control. It helps managers identify inefficient areas, forecast future performance, and determine costs. In contrast to financial accounting which has fixed rules, management accounting tools may differ between organizations. While it provides information, management accounting does not make decisions - that responsibility remains with management. Some key functions include margin analysis, breakeven analysis, constraint analysis, and target costing. Limitations include reliance on financial/cost accounting data and lack of knowledge in related fields. Management accounting is an evolving system that aids strategic decision-making through tools like ratio analysis, budgets, forecasts, and variance analysis.
Cost and management accounting are formal systems used to record and analyze financial data related to the costs of producing goods or services. Cost accounting tracks costs to help control expenses, while management accounting provides financial information to assist management in decision making, planning, and performance evaluation. Some key differences are that cost accounting focuses on historical costs, while management accounting also considers future forecasts and budgets. Both systems have merits like aiding management, but also demands like increased expenses.
Management accounting can be viewed as accounting oriented towards management functions. It redesigns the accounting system to serve the operational needs of the firm by furnishing accounting information that can be used for management actions and decisions. Management accounting involves collecting, modifying, analyzing and interpreting financial data, as well as planning and forecasting, communication, ensuring control, helping in decision-making, performance evaluation, and preparing reports.
This document discusses the functions of a financial controller. It begins by explaining how management accounting has evolved and led to the segregation of accounting functions from other secretarial and financial activities. This allows for more accurate accounting control over complex business operations. As a result, the role of a financial controller has emerged. The controller is a skilled business analyst, qualified through training and experience, to perform several key functions:
1. Overseeing the establishment and maintenance of an adequate system of internal control.
2. Preparing budgets and assisting management in comparing actual performance to budgets to aid decision making.
3. Analyzing variances and reporting on them to management.
In short, the financial controller is
advantages of management account,definition,functions of management account,limitations of management account,management account,meaning,nature of management account,objectives of account,scope of management account
Cost accounting helps businesses classify, record, and allocate expenditures to determine the costs of products and estimate profit. It provides management with cost information needed for planning, cost control, and decision making. Financial accounting does not provide this level of cost analysis. The key differences between cost and financial accounting are that cost accounting focuses on determining product costs, providing management information, and analyzing variances, while financial accounting reports overall financial results and position for external parties. Management accounting uses cost accounting principles and additional managerial techniques to supply a wider range of information to assist management with policy creation, operations, planning, and decision making.
The document discusses the Software Testing Life Cycle (STLC) and compares it to the Software Development Life Cycle (SDLC). It outlines the key phases of the STLC including test planning, test environment setup, test case creation and execution, bug reporting, analysis and fixing. Validation ensures the product meets requirements while verification checks if it is built correctly. Common verification techniques discussed are reviews, inspections, walkthroughs, and testing approaches like unit testing, integration testing, system testing. The V-model is also summarized which involves creating test plans and documents at each stage to test the product as it is developed.
The Internet is a global system of interconnected computer networks that use the Internet protocol suite to link devices worldwide. It was created by the US Department of Defense in the 1960s but has since grown to be a public, self-sustaining facility. An intranet is a private network that uses Internet protocols to securely share part of a company's information or operations, while an extranet extends an intranet to external users for specific limited collaboration. Internet service providers give customers access to the Internet for a monthly fee. Common types of connections include broadband, cable, dial-up, DSL, fiber, and wireless.
A local area network (LAN) uses wired connections to connect devices within a limited geographic area like a building or campus. Ethernet became the dominant wired LAN technology using carrier sense multiple access with collision detection (CSMA/CD) to regulate shared access to the transmission medium. Ethernet has evolved from 10 Mbps to 100 Mbps to 1 Gbps standards to meet increasing bandwidth demands. Key components of wired LANs include network adapters, cabling, connectors, switches/hubs, and software protocols. Other historical wired LAN technologies like Token Ring and Token Bus used token passing for medium access but have been largely replaced by Ethernet.
Network devices like hubs, switches, and routers connect computers in a network and help manage traffic flow. Hubs broadcast all received data to all ports but have limited bandwidth. Switches can connect more devices than hubs and have features like VLANs. Routers connect different networks and use IP addresses to direct traffic. Other devices like firewalls, VPNs, and IDS/IPS provide network security functions.
1. Header files contain function declarations and macro definitions that can be shared between multiple C source files. System header files are provided by the compiler while user header files are written by the programmer.
2. The math.h header file contains common mathematical functions like sqrt, exp, log, pow, etc. The ctype.h header file contains functions for character classification and conversion like isalpha, isdigit, toupper, tolower.
3. Important functions in stdio.h include printf, scanf for input/output, and fopen, fclose for file handling. Functions in stdlib.h include malloc and free for memory management.
IEEE 802.11 defines wireless local area networks. It uses CSMA/CA for media access and includes encryption. Wireless networks can operate in ad-hoc mode with no base station or in infrastructure mode with an access point. Infrastructure networks can connect multiple basic service sets to extend the network. Stations can have no, basic, or extended mobility between networks. Physical layer standards include FHSS, DSSS, OFDM, and their variants.
UNIT -03 Transmission Media and Connecting Devices Raj vardhan
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This document discusses database management systems (DBMS) and their advantages over traditional file-based data storage. It describes the key components of a DBMS, including the hardware, software, data, procedures, and users. It also explains the three levels of abstraction in a DBMS - the physical level, logical level, and view level - and how they provide data independence. Finally, it provides an overview of different data models like hierarchical, network, and relational models.
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This document provides an overview of Module 1 of an introduction to software concepts course. It covers the following topics: definitions of software, importance of software, types of software, software components, members involved in software development, and an overview of the software development life cycle (SDLC). Specifically, it defines software, discusses why it is important, lists common software types and components. It also outlines the roles of various members in software development projects, such as subject matter experts, functional analysts, developers, testers, and project managers. Finally, it provides a high-level overview of the waterfall model for the SDLC.
The document provides details about a minor project on Swachh Bharat Abhiyan conducted in two districts of Jharkhand, India. It discusses the context and rationale for the study which aims to assess the impact of a Swachh Bharat Abhiyan project implemented by Aarogya Foundation of India in 105 villages across two blocks. The methodology section outlines the objectives, scope, research methodology and sampling process involving 506 respondents from the community, schools and Aarogya Foundation functionaries.
The document discusses different types of network topologies including point-to-point, bus, star, ring, mesh, tree and hybrid. It provides details on point-to-point, bus and star topologies. Point-to-point topology connects two computers directly in close proximity. Bus topology uses one main cable that connects all nodes and if it breaks the whole network fails. Star topology connects each computer to a central hub allowing for easier troubleshooting than bus topology.
Microsoft Office Word Introduction CompleteRaj vardhan
Microsoft Word allows users to create and edit a variety of documents. It can be used to create business documents with graphics, store reusable content, make letters and resumes, and create correspondence from memos to legal documents. The basic Word window contains a File tab, Quick Access toolbar, Ribbon, title bar, rulers, and view buttons. Common functions include copying and pasting text, finding and replacing words, checking spelling and grammar, and changing text formatting.
Digital money revolution in India
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- The Reserve Bank of India has outlined a vision to encourage electronic payments and a less cash society in India. It has launched various initiatives over the years like ECS in 1990s to facilitate bulk/repetitive payments and fund transfers.
- Demonetization in 2016 aimed to move India towards a cashless economy. However, going fully digital faces challenges due to low internet penetration and digital literacy in India. Infrastructure like availability of smartphones, broadband connectivity, and number of
The document discusses various C programming concepts including data types, variables, constants, and input/output functions. It covers fundamental data types like integers, floats, characters, and derived types like arrays, pointers, and structures. It also explains variable declaration syntax, integer and floating point input/output, and arithmetic, relational, logical, and conditional operators.
The document discusses key concepts related to business strategy including vision, mission, objectives, critical success factors, and analysis. It provides definitions and examples of vision as the desired future destination, mission as the organization's role in society, and objectives as precise goals. Critical success factors are identified as essential areas for competitive success. Different levels of analysis are also summarized, including internal analysis of the company, customer, and competitor, as well as external analysis of context.
This document defines key business terms and concepts. It discusses that an organization operates within an environment that is constantly changing. It also explains that a strategy is a plan to deploy scarce resources and that there are different levels of strategy, including corporate, business, and functional strategies. Finally, it defines sustainable competitive advantage as arising from distinctive competencies, which are capabilities that a company performs better than its rivals.
This document discusses number systems and conversion between decimal, binary, octal, and hexadecimal numbering systems. It begins with an outline of topics to be covered, including the different numbering systems, conversion methods between systems, representations like signed and unsigned numbers, and operations on numbers. The body then defines each numbering system - decimal, binary, octal, hexadecimal - and how they represent values using positional notation. It provides methods for converting between decimal and the other bases using successive division or weighted multiplication. Examples demonstrate converting between the different systems.
The document provides information on different types of computer software and programming concepts. It discusses system software and application software, giving examples of each. It also covers programming languages from machine language to assembly language to high-level languages. Other topics summarized include algorithms, flowcharts, pseudocode, decision tables, operating systems, and functions of an operating system.
This document provides instructions for a lab on learning basic elements and features of Microsoft Word. It guides students on how to format text, insert headers, footers, images, tables, and hyperlinks. It also demonstrates how to change fonts, insert page borders, add bullets, adjust line spacing and drop caps. The goal is for students to create a 6 page Word document applying these skills and demonstrate all the features of Word's menu bar tabs.
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The document discusses the history and development of CamScanner, an app for scanning documents and converting them to digital PDF or JPG files. It started as a student project in Shanghai in 2011 and has grown significantly since then with over 100 million downloads worldwide. The document outlines some of CamScanner's key features and capabilities for easily scanning, editing, sharing and storing digital copies of documents on mobile devices.
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How to Manage Reception Report in Odoo 17Celine George
A business may deal with both sales and purchases occasionally. They buy things from vendors and then sell them to their customers. Such dealings can be confusing at times. Because multiple clients may inquire about the same product at the same time, after purchasing those products, customers must be assigned to them. Odoo has a tool called Reception Report that can be used to complete this assignment. By enabling this, a reception report comes automatically after confirming a receipt, from which we can assign products to orders.
CapTechTalks Webinar Slides June 2024 Donovan Wright.pptxCapitolTechU
Slides from a Capitol Technology University webinar held June 20, 2024. The webinar featured Dr. Donovan Wright, presenting on the Department of Defense Digital Transformation.
This document provides an overview of wound healing, its functions, stages, mechanisms, factors affecting it, and complications.
A wound is a break in the integrity of the skin or tissues, which may be associated with disruption of the structure and function.
Healing is the body’s response to injury in an attempt to restore normal structure and functions.
Healing can occur in two ways: Regeneration and Repair
There are 4 phases of wound healing: hemostasis, inflammation, proliferation, and remodeling. This document also describes the mechanism of wound healing. Factors that affect healing include infection, uncontrolled diabetes, poor nutrition, age, anemia, the presence of foreign bodies, etc.
Complications of wound healing like infection, hyperpigmentation of scar, contractures, and keloid formation.
🔥🔥🔥🔥🔥🔥🔥🔥🔥
إضغ بين إيديكم من أقوى الملازم التي صممتها
ملزمة تشريح الجهاز الهيكلي (نظري 3)
💀💀💀💀💀💀💀💀💀💀
تتميز هذهِ الملزمة بعِدة مُميزات :
1- مُترجمة ترجمة تُناسب جميع المستويات
2- تحتوي على 78 رسم توضيحي لكل كلمة موجودة بالملزمة (لكل كلمة !!!!)
#فهم_ماكو_درخ
3- دقة الكتابة والصور عالية جداً جداً جداً
4- هُنالك بعض المعلومات تم توضيحها بشكل تفصيلي جداً (تُعتبر لدى الطالب أو الطالبة بإنها معلومات مُبهمة ومع ذلك تم توضيح هذهِ المعلومات المُبهمة بشكل تفصيلي جداً
5- الملزمة تشرح نفسها ب نفسها بس تكلك تعال اقراني
6- تحتوي الملزمة في اول سلايد على خارطة تتضمن جميع تفرُعات معلومات الجهاز الهيكلي المذكورة في هذهِ الملزمة
واخيراً هذهِ الملزمة حلالٌ عليكم وإتمنى منكم إن تدعولي بالخير والصحة والعافية فقط
كل التوفيق زملائي وزميلاتي ، زميلكم محمد الذهبي 💊💊
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Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumMJDuyan
(𝐓𝐋𝐄 𝟏𝟎𝟎) (𝐋𝐞𝐬𝐬𝐨𝐧 𝟏)-𝐏𝐫𝐞𝐥𝐢𝐦𝐬
𝐃𝐢𝐬𝐜𝐮𝐬𝐬 𝐭𝐡𝐞 𝐄𝐏𝐏 𝐂𝐮𝐫𝐫𝐢𝐜𝐮𝐥𝐮𝐦 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
𝐄𝐱𝐩𝐥𝐚𝐢𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐚𝐧 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
THE SACRIFICE HOW PRO-PALESTINE PROTESTS STUDENTS ARE SACRIFICING TO CHANGE T...indexPub
The recent surge in pro-Palestine student activism has prompted significant responses from universities, ranging from negotiations and divestment commitments to increased transparency about investments in companies supporting the war on Gaza. This activism has led to the cessation of student encampments but also highlighted the substantial sacrifices made by students, including academic disruptions and personal risks. The primary drivers of these protests are poor university administration, lack of transparency, and inadequate communication between officials and students. This study examines the profound emotional, psychological, and professional impacts on students engaged in pro-Palestine protests, focusing on Generation Z's (Gen-Z) activism dynamics. This paper explores the significant sacrifices made by these students and even the professors supporting the pro-Palestine movement, with a focus on recent global movements. Through an in-depth analysis of printed and electronic media, the study examines the impacts of these sacrifices on the academic and personal lives of those involved. The paper highlights examples from various universities, demonstrating student activism's long-term and short-term effects, including disciplinary actions, social backlash, and career implications. The researchers also explore the broader implications of student sacrifices. The findings reveal that these sacrifices are driven by a profound commitment to justice and human rights, and are influenced by the increasing availability of information, peer interactions, and personal convictions. The study also discusses the broader implications of this activism, comparing it to historical precedents and assessing its potential to influence policy and public opinion. The emotional and psychological toll on student activists is significant, but their sense of purpose and community support mitigates some of these challenges. However, the researchers call for acknowledging the broader Impact of these sacrifices on the future global movement of FreePalestine.
How Barcodes Can Be Leveraged Within Odoo 17Celine George
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1. Introduction to Management Accounting
Definition
Management Accounting is that branch of accounting which deals with presenting and providing
accounting information to the management in a systematic way so that it can perform its
management functions of planning, controlling and decision-making in an effective and efficient
manner. It acts as a ‘decision-making support system’ to the management.
It assists the management in creation of policy and day-to-day operation of an undertaking. Thus,
it relates to the use of accounting data collected with the help of financial accounting and cost
accounting for the different purposes such as:
1) Formulation & setting up of plans/ strategies.
2) Planning & controlling the operations of the firm.
3) Taking decisions & selecting the best course of action.
4) Communicating information to the employees.
5) Optimizing the use of resources.
According to American Accounting Association, Management Accounting is “the application
of appropriate techniques and concepts in processing historical and projected economic data of
an entity to assist management in establishing plans for reasonable economic objectives and in
the making of rational decisions with a view towards these objectives”.
Nature of Management Accounting
Management Accounting is the most effective tool of the management for planning and decision-
making. The features of management accounting are as follows:
1) Analysis & Interpretation of data: It deals with the collection of accounting and other
data and analyses, interprets and communicates the relevant information to the
management which is effectively required by the organization for taking decisions on
various aspects of the business.
2. 2) Future-oriented: It is a forward-looking tool of the management. It analyses and
interprets historical data for projecting the future trends of the different activities of the
enterprise.
3) Serves as a yardstick: It acts as a yardstick for measuring the effectiveness of
managerial performance as well as the level of performance of various operational and
non-operational activities of the business.
Scope of Management Accounting
The scope of management accounting covers the following areas:
1) Financial Accounting: Financial Accounting provides historical information useful for
future planning and financial forecasting. Designing a proper financial accounting system
is must for obtaining full control and coordination of operations of the business.
2) Cost Accounting: It provides various techniques of costing like marginal costing,
standard costing, budgetary control, cost-volume-profit analysis etc which play a vital
role in the operation and control of business undertakings and are used in the process of
planning and decision-making.
3) Forecasting and budgeting: Management Accounting exercises the tool of forecasting
and budgeting in the process of planning, controlling and decision-making. Forecasting
makes an estimate of the probable event with a set of given information. Budgeting
prepares a number of plans for any future project by setting definite goals. Forecasting
helps to prepare the budget and budgeting helps to exercise the budgetary control
techniques on future projects.
4) Tax accounting and tax planning: In the process of decision-making, the analysis of
implication of tax provisions on future projects comes under management accounting. In
order to take advantages of various tax provisions, management accountant should have
vast knowledge of tax laws and their accounting procedures to minimize the tax burden
of the enterprise.
3. 5) Internal Control & Audit: Management Accounting highly depends on internal control
system existing in the organization like internal check and internal audit to identify the
weaker sections of the organization.
6) Cost Control Procedures: These procedures are the integral part of the management
accounting process and include inventory control, cost control, budgetary control,
variance analysis etc.
7) Financial Analysis and Interpretation: Various financial analysis techniques such as
Ratio Analysis, Fund Flow Analysis, Trend analysis, Cash Flow Analysis, Comparative
Financial Statement etc are widely used in Management Accounting to analyze and
interpret financial data to make them easily understandable and usable to the
management.
8) Reporting to Management: The Management Accountant is required to submit reports
to the top management, middle management and operating level management depending
upon their requirements on various aspects of the organization.
9) Office Services: Management Accountant is expected to maintain and control office
routines and procedures like filing, copying, communicating, data processing etc.
10) Statistical Tools: Various statistical tools like graphs, charts, diagrams, time series,
regression analysis etc are used in Management Accounting in the process of planning,
controlling and decision-making.
Objectives of Management Accounting
The prime objective of Management Accounting is to provide necessary information to the
management for an effective and efficient execution of managerial functions. Various
objectives of Management Accounting are as follows:
1) Analysis and Interpretation of Financial Statements: Management Accounting
collects analyses and interprets the necessary data from the results shown by financial
and cost accounting system and provides necessary and relevant information to the
management in a systematic and useful manner which is to be applied by the
4. management in the process of its planning, controlling and decision-making. Various
tools like Ratio Analysis, Fund Flow Analysis, Cash Flow Analysis, Comparative
Financial Statement, Common-size Statement and Trend Analysis are widely used in
Management Accounting for analyzing and interpreting those data to make them easily
understandable and usable to the management.
2) Planning and policy-making: Management Accounting provides necessary and relevant
information to the management in the process of its planning and policy-making to
achieve organizational goals. Various statistical forecasting like Time Series Analysis
and Regression Analysis are used in Management Accounting to guide proper planning
and policy- making.
3) Decision-Making: Management Accounting provides necessary and relevant information
to the management in the process of its decision-making. The success of the management
highly depends upon a perfect decision-making. Such decision-making broadly depends
on the effectiveness of information network. Management Accounting provides the above
information to the management by applying Marginal Costing Technique, Differential
Costing Technique and Absorption Costing Technique for effective and accurate
decisions such as pricing of products, make or buy, discontinuance of product line etc.
4) Controlling: Management Accounting applies various useful techniques such as
Standard Costing, Budgetary Control, Responsibility Accounting and Management Audit
to ensure an effective managerial control over the use of resources of the enterprise.
Management control is a control system which assures that the resources of the enterprise
are effectively and efficiently used for achieving its goals and objectives. Management
Accounting plays a significant role to the management in ensuring the existence of a
proper managerial control system.
5) Coordinating: Management Accounting helps the management in coordinating the
activities of the concern by getting prepared functional budgets and then coordinating the
whole activities of the concern by integrating all functional budgets into one known as
master budget. Thus, management accounting is a useful tool in coordinating the various
operations of the business.
5. 6) Communicating: Management Accounting assists the management in communicating
the financial facts about the enterprise to the persons who are interested in these facts so
that they may be guided to a line of action to be pursued. Management needs information
for taking decisions and for evaluating performance of the business. The required
information can be made available to the management by means of reports which are an
integral part of the management accounting. Reports are means of communication of
facts which should be brought to the notice of various levels of management so that they
may be guided for taking suitable action for the purposes of control.
7) Helps in evaluating the efficiency and effectiveness of policies: Management
Accounting also lays emphasis on management audit which means evaluating the
efficiency and effectiveness of management policies. Management policies are reviewed
from time to time to make an improvement in them so that maximum efficiency may be
achieved.
Tools & Techniques of Management Accounting
Management Accounting uses various tools and techniques for providing necessary and effective
information to the management for performing its managerial functions. Various tools and
techniques that are commonly used in Management Accounting are as follows:
1) Financial Statement Analysis: It is a methodical and systematic analysis and
interpretation of the data disclosed in the balance sheet and income statement with a view
to extract necessary and relevant information for proving them to the management for
determining liquidity, solvency, profitability, activity and the managerial performance of
the enterprise. Various tools of financial statement analysis such as Ratio Analysis,
Comparative Financial Statement, Common Size Statement and Trend analysis are
frequently used in Management Accounting for analysis and interpretation of Financial
Statements.
2) Fund Flow Analysis: It is a detailed analysis of inflows and outflows of fund (working
capital) of an enterprise during a particular accounting period. The Fund Flow exhibits
inflows and outflows of fund from various activities of the enterprise. As working capital
is considered as life-blood of every business concern, efficient management of working
6. capital is highly effective for smooth working of all operating activities of the concern.
For an effective and efficient management of working capital of a concern, Fund Flow
Analysis is frequently used as a tool of Management Accounting.
3) Cash Flow Analysis: It is a detailed analysis of inflows and outflows of cash and cash
equivalents (i.e cash in hand, cash at bank and short-term investments) of an enterprise
during a particular accounting period. Such analysis is done by preparing a Cash Flow
Statement at the end of an accounting period. The Cash Flow Statement so prepared
exhibits the inflows and outflows of cash from various activities of the enterprise. As the
movement of cash is very significant to every business concern, an efficient management
of cash is highly effective for the liquidity planning of the concern. For an effective and
efficient management of cash of a concern, Cash Flow Analysis is frequently used as a
tool of Management Accounting.
4) Budgetary Control: Budgetary Control involves framing of budgets, comparison of
actual results with budgeted estimates, ascertainment of any deviation of actual results
from the budgeted by computation of variances and adoption of necessary remedial
measures against deviations. It is an essential tool widely used in Management
Accounting in the process of its controlling, planning and performance evaluation of an
enterprise.
5) Standard Costing: It 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 pin point the responsibility and to take
remedial action so that adverse things may not happen again. This aspect is necessary to
have cost control.
6) Marginal Costing: The management accountant uses the technique of marginal costing,
differential costing and break-even analysis for cost control, decision making and profit
maximization.
7) Management Reporting: It involves preparation and submission of reports of
performance of various activities of a concern to the management on regular intervals for
7. its effective planning, controlling, performance evaluation and decision-making.
Management Reporting is widely used as an essential tool in Management Accounting.
8) Statistical and Operations Research techniques: Various statistical and operational
research techniques such as charts, graphs, index numbers time series, trend analysis,
regression analysis etc are frequently used a stools of Management Accounting in its
process of performance evaluation and decision-making.
Advantages of Management Accounting
Management Accounting provides very valuable services to the management in the course of its
functioning. Various advantages of management accounting are as follows:
1) Planning: It formulates policies and programmes by setting definite goals and prepares a
systematic plan for achieving these goals. It makes such plans for achieving
organizational goals and targets.
2) Controlling: It plays a most significant role in the process of controlling. Management
Accounting in the process of controlling involves framing of budgets, comparison of
actual with budgeted estimates, ascertainment of any deviation of actual results from
budgeted estimates by computation of variances and adoption of necessary remedial
measures against such deviation.
3) Coordination: It plays the most vital role in the process of coordinating of different
divisions of an enterprise. Its techniques of planning make a very good coordination
between the various activities of a concern. Proper reporting of different business
activities are also made by Management Accounting through coordination between
various sections of the enterprise.
4) Performance Evaluation: Management Accounting evaluates the performance of
employees of the organization by comparing target estimates with the actual
performances of the employees.
5) Organizing: Management Accounting divides the whole organization into suitable cost or
profit centers. A sound system of internal control and internal audit is assigned to each
cost or profit center for ensuring a planned organizing system.
8. 6) Motivating: It helps the management in the process of motivating the employees by
setting various targets to achieve organizational goals.
7) Communicating: Management Accounting communicates the performances of various
divisions and employees of the enterprise with the help of management information
system to the different levels of the management by preparing reports of performance of
those sections and employees of the enterprise. Such communication is essentially
required for planning, controlling and decision-making of the enterprise.
8) Decision-making: The success of the management highly depends upon the perfect
decision-making and such decision-making depends on the effectiveness of information
network. It provides necessary and relevant information to the management for effective
and accurate decision-making.
Limitations of Management Accounting
Management Accounting suffers from the following limitations:
1) Reliance on accounting data: Management Accounting collects the basic data from
the records maintained by financial and cost accounting, If those basic data are
incorrect, then the entire effort of management accountant becomes useless.
2) Based on historical data: It guides the management in the process of decision-making
for the future activities on the basis of the historical data as supplied by the Financial
Accounting and Cost Accounting. Therefore, the future decisions made on the basis
of historical data may be incorrect.
3) Highly Expensive: the installation of sound Management Accounting System in a
concern is highly expensive as it essentially requires a wide network of management
information system. Moreover, the operating expense of the department is so high
that a small concern cannot afford to install this system.
4) Complicated application: The proper application of management accounting system is
complicated when compares to other branches of accounting because of the usage of
various tools and techniques and also because a number of accounting and non-
accounting subjects are required to be analyzed and interpreted.
9. 5) Lack of objectivity: It uses both quantitative and qualitative data for analyses and
interpretation and prepares reports on the basis of such interpretation. The
information may be influenced by a personal bias of the interpreter, which may
reduce the utility of management accounting.
Limitations of Financial Accounting
1) Financial accounting does not provide timely information: Financial accounting is
designed to supply information in the form of statements (Balance Sheet and Profit and
Loss Account) for a period normally one year. So the information is, at best, of historical
interest and only 'post-mortem' analysis of the past can be conducted. The business
requires timely information at frequent intervals to enable the management to plan and
take corrective action. For example, if a business has budgeted that during the current
year sales should be Rs. 12,00,000 then it requires information whether the sales in the
first month of the year amounted to Rs. 1,00,000 or less or more?
2) Financial accounting ignores important non-monetary information: Financial
accounting does not consider those transactions of non- monetary in nature. For example,
extent of competition faced by the business, technical innovations possessed by the
business, loyalty and efficiency of the employees; changes in the value of money etc. are
the important matters in which management of the business is highly interested but
accounting does not take into account such matters.
3) Financial Accounting does not provide detailed analysis: The information supplied by
the financial accounting is in reality aggregates of the financial transactions during the
course of the year. Of course, it enables to study the overall results of the business the
information is required regarding the cost, revenue and profit of each product but
financial accounting does not provide such detailed information product- wise.
10. Difference between Financial & Management Accounting
Financial accounting & management accounting are closely interrelated since management
accounting is to a large extent the rearrangement of data provided by financial accounting.
Financial accounting provides historical data which helps management to forecast & plan its
financial activities for the future period. Thus, for an effective & successful management
accounting there should be proper & well-designed financial accounting system. In spite of such
a close relationship there are differences between the two:
S.No. Point of Distinction Financial Accounting Management Accounting
1. Purpose/ Objective The main objective of financial
accounting is to provide
information in the form of profit
& loss account & balance sheet
to external users like
shareholders, creditors etc.
The main objective of management
accounting is to provide useful
information to internal parties i.e. to
the management for planning &
decision-making.
2. Periodicity of
reporting
The financial statements in
financial accounting are prepared
usually annually or half-yearly.
The information provided by
management accounting is available
as and when required by the
management.
3. Regulation &
Standardization
Financial Accounting system is
regulated & standardized by the
Generally Accepted Accounting
Principles.
Management Accounting system is
not regulated by anybody as it is
internal to the management.
4. Type of information Financial Accounting makes useManagement Accounting makes use
11. of only quantitative information
for making financial statements.
of both quantitative as well as
qualitative information for planning
& decision-making.
5. Legal Compulsion Financial Accounting is
compulsory for any business on
account of the provisions made
by the Companies Act.
Any business is free to install or not
to install the system of management
accounting.
6. Precision The information requires more
precision as it is meant for
external consumption
The information requires less
precision as it is meant for internal
consumption.
7. Audit The financial statements
provided by the business are
compulsorily audited by a
professional called Chartered
Accountant because it is
necessary to provide accurate
information to external users.
The reports provided by the
management accounting system need
not be audited as it is for use by the
internal management.