Management accounting is concerned with the provisions and use of accounting information to managers within business, to provide them with the basis to make informed business decisions that will allow them to be better prepared in their management and control functions.
Management accounting uses both cost and financial info to advise management in planning and controlling the organization. Management accounting is used for providing information the organization people. Management accountants design specific purpose reports to serve needs of decision makers. Because internal decision makers are primarily concerned with impact
Managerial (Management) Accounting Definition: The phase of accounting concerned with providing information to managers for use in planning and controlling operations and in decision making. Click here to read more about managerial/management accounting Recommended Books ! Or Download E accounting book in MS-word format
Cost Classification for Decision Making (Decision Making Costs): Learning objective of this article: Define, explain, and give examples of cost classifications used in making decisions: differential costs, opportunity costs, and sunk costs. Costs can be classified for decision making. Costs are important feature of