MANAGEMENT ACCOUNTING

Management Accounting is a specialized branch of accounting that provides relevant financial and non-financial information to assist management in planning, decision-making, and controlling business operations. Unlike Financial and Cost Accounting, which primarily serve external reporting and cost control, Management Accounting focuses on internal needs. The rapid growth of industries, increasing competition, and complex business operations have created a demand for timely and accurate data. This need gave rise to a new system of accounting known as Management Accounting. It supports strategic decisions by offering insights into performance, efficiency, and future trends, helping organizations achieve their overall objectives.