Management accounting and reporting
Management accounting or managerial accounting is concerned with the provisions and use of accounting information to managers within organisations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions.
In contrast to financial accountancy information, management accounting information is:
- designed and intended for use by managers within the organisation, instead of being intended for use by shareholders, creditors and public regulators
- usually confidential and used by management, instead of publicly reported
- forward-looking, instead of historical
- computed by reference to the needs of managers, often using management information systems, instead of by reference to general financial accounting standards.
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