Management Accounting
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Transcript of Management Accounting
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MANAGEMENT
ACCOUNTING
BYMehedi Hasan
ToRoushan Ara SultanaAssistant ProfessorFBA, USTC
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MANAGEMENT ACCOUNTING
Accounting that concentrates on reporting to people inside the business entity is called “Management Accounting” .
provide information to employees, managers, owner-manager and auditors.
Management accounting is concerned with accounting information which is useful to management.
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Scope of Management Accounting cont...
The scope or field of management accounting is very wide and broad based and it includes a variety of aspects of business operations. The main aim of management accounting is as follows;
Financial Accounting: Management accounting is mainly concerned with the rearrangement of the information provided by financial accounting. Cost Accounting: Cost accounting is the process and techniques of ascertaining cost. Planning, decision making and control are the basic managerial functions.
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Scope of Management Accounting cont...
Budgeting And Forecasting: Budgeting means expressing the plans, policies and goals of the firm for a definite period in future. Forecasting on the other hand, is a prediction of what will happen as a result of a given set of circumstances.
Inventory ControlInventory is necessary to control from the time it is acquire till its final disposal as it involves large sum. For controlling inventory, management should determine different level of stock. The inventory control technique will be helpful for taking managerial decisions.
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Techniques in management accounting
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Key Management Accounting Techniques
Cost Allocation Technique• Job costing• process costing• activity-based costing • throughput costing
Forecasting Models Technique• These models may also be used to
determine the potential market demand for producing products and the expected level of sales for each item produced by the company.
Assist Business Decisions Technique• By using net present value, return on
investment or a basic payback model helps managers understand the financial impact of business opportunities and how to make the best business decision based on the information available.
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Thank You Everybody