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Introduction to Management Accounting

LEARNING OBJECTIVES

On completion of the study of the chapter, you should be able to understand:

  • What is Management Accounting?

  • Nature, scope, objectives, functions, utilities and limitations of Management Accounting.

  • Tools and techniques of Management Accounting.

  • Requisites for installation of Management Accounting System.

  • Distinction between Management Accounting and Financial Accounting.

  • Distinction between Management Accounting and Cost Accounting.

1.1 DEFINITION OF MANAGEMENT ACCOUNTING

Management Accounting is that branch of accounting which deals with presenting and providing accounting information to the management in such a systematic way so that it can perform its managerial functions ...

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