Management Accounting

Description

Management accounting is a modern concept of accounting and is concerned with all the accounting information which is useful to the management. It helps the management in performing its managerial functions of planning, controlling, organising and decision-making in an efficient manner. According to the Institute of Cost Accountants of India (ICAI), “Management Accounting is a system of collection and presentation of relevant economic information relating to an enterprise for planning, controlling and decision-making”.