Accounting helps to create and maintain data. It plays a significant role in the evaluation of businesses done and gives a great insight into the processes to be followed while forming the future business strategies. The management has to decide the allocation of funds based on the figures shown in the accounts. Management Accounting provides them this vital information. These records are used internally for analysing the viability of projects. Cash Flow Analysis, Budgeting and Product Costing and Valuation are some of the components of Management Accounting. The management is expected to perform diverse functions such as planning, organizing, staffing, directing, coordinating, reporting and budgeting. The complexity of these responsibilities make Management Accounting highly significant. Please read the slides for more details.

Shikha Bharti

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