Management Accounting: Meaning, Nature, Characteristics ... | Characteristic of managerial accounting
Management accounting employs special techniques like standard costing, budgetary control, marginal costing, fund flow, cash flow, ratio analysis, responsibility ...AccountingNotesHomeMainMenuHomeShareYourKnowledgeContentQualityGuidelinesDisclaimerPrivacyPolicyContactUsReturntoContentArticlesharedby:ADVERTISEMENTS:Inthisarticlewewilldiscussabout:-1.Meaningof ManagementAccounting2.NatureofManagementAccounting3.Characteristics4.ObjectivesandFunctions5.ToolsandTechniques6.InstallationofManagementAccountingSystem7.Organisation8.Advantages/Merits/Uses9.Limitations.ManagementAccounting:Meaning,Nature,Characteristics,Objectives,Tools,AdvantagesandLimitationsContents:Meaningof ManagementAccountingNatureofManagementAccountingCharacteristicsofManagementAccountingObjectivesandFunctionsofManagementAccountingToolsandTechniquesofManagementAccountingInstallationofManagementAccountingSystemOrganisationforManagementAccountingAdvantages/Merits/UsesofManagementAccountingLimitationsofManagementAccounting1.Meaningof ManagementAccounting:ThetermManagementAccountingconsistsoftwowords“Management”and“Accounting”.Itisthestudyofmanagerialaspectsofaccounting.Itisatoolinthehandsofmanagementtoexercisedecisionmaking.Theemphasisofmanagementaccountingistoredesignaccountinginamannerwhichishelpfultothemanagementinframingthepoliciesandcontroloftheirexecution.ADVERTISEMENTS:Managementaccountingisofrecentorigin.Thetermwasfirstusedin1950byateamofaccountantsvisitingU.S.A.undertheauspicesofAnglo-AmericanCouncilonproductivity.Theterminologyofcostaccountinghadnoreferencetotheword‘managementaccountancy’beforethevisitbythisstudygroup.Intensivecompetitions,largescaleproduction,dynamicdevelopmentsintechnology,andcomplexitiesofmodernbusinesshaveledtothedevelopmentofmanagementaccounting-tosolvemanyoftheproblems.“Managementaccountingisthepresentationofaccountinginformationinsuchawayastoassistmanagementinthecreationofpolicyandintheday-to-dayoperationsofanundertaking”.I.C.M.A.–thedefinitionrecentlyincorporatedintothe
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