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May 10, 2023
Answer :


Management accounting is refers to as system of planning , recording, controlling the financial resources in an organisation. Objective of this accounting system is to help business entity in controlling the cash flows. It allows manager to record all financial transaction which can be used for estimating the costs or expenses which are to be incurred when executing specific activity. Managerial accounting is also defined as procedures of making essential data available to company managers who directly responsible for a firm`s operations. This accounting system assist manager in making suitable decisions related to an organisation. Managerial or management accounting includes the integration of both financial and non-Monetary statements .It intends to provide useful information to the management so that the management can take effective decision for the business. This accounting system plays significant role in delivering information about the financial position of the company to both internal and  external stakeholders.

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