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Management accounting system produces the information required by managers to manage resources and creates value. The process involves estimation of cost of goods and services to support tactical and operational decision making requirements of managers, information for operational planning and controlling and for measuring performance.
Management accounting or managerial accounting requires use of accounting information to managers within organizations and gives them basis to make informed business decisions to perform their management and control functions. The management reports prepared under management accounting contains financial and statistical information which help managers make their short term decisions.
Managerial accounting provides information for decision making and Continue reading