Transcription of MANAGEMENT ACCOUNTING: NATURE AND SCOPE
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MANAGEMENT ACCOUNTING: NATURE AND SCOPE
1 MANAGEMENT accounting : NATURE AND SCOPE Objective: The present lesson explains the meaning, NATURE , SCOPE and limitations of accounting . Further, it discusses the activities covered under MANAGEMENT accounting and its difference with financial accounting . LESSON STRUCTURE Introduction Definitions of MANAGEMENT accounting NATURE of MANAGEMENT accounting Functions of MANAGEMENT accounting SCOPE of MANAGEMENT accounting The MANAGEMENT Accountant MANAGEMENT accounting and Financial accounting Cost accounting and MANAGEMENT accounting Limitations of MANAGEMENT accounting Self-Test Questions Suggested Readings INTRODUCTION MANAGEMENT accounting can be viewed as MANAGEMENT -oriented accounting .
unique tool for management decision. 1.2 DEFINITIONS OF MANAGEMENT ACCOUNTING The term “Management Accounting”, observe, Broad and Carmichael, covers all those services by which the accounting department can assist the top management and other departments in the formation of policy, control of execution and appreciation of effectiveness.
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