![]() “Management accounting is a system of collection and presentation of relevant economic information relating to an enterprise for planning, controlling and decision-making.” -ICWA of India ![]() Management Accountancy is the blending together into a coherent whole, financial accounting, cost accountancy and all aspects of financial management.” -Batty “Management Accounting is the term used to describe accounting methods, systems and techniques which coupled with special knowledge and ability, assists management in its task of maximising profits or minimising losses. “Management Accounting is concerned with accounting information that is useful to management.” -R.N. Some leading definitions of Management Accounting are given below: Management accounting links management with accounting as any accounting information required for taking managerial decisions is the subject matter of management accounting. Thus, it relates to the use of accounting data collected with the help of financial accounting and cost accounting for the purpose of policy formulation, planning, control and decision-making by the management. Management Accounting is the presentation of accounting information in such a way as to assist management in the creation of policy and the day-to-day operation of an undertaking.
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