Transcription of UNIT – I MANAGEMENT ACCOUNTING INTRODUCTION
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UNIT – I MANAGEMENT ACCOUNTING INTRODUCTION
MBA-FinanceManagement AccountingUNIT IMANAGEMENT ACCOUNTINGINTRODUCTION:Abusiness enterprise must keep a systematic record of what happens fromday-tot-day events so that it can knowits position clearly. Most of the business enterprisesare run by the corporate sector. These business houses are required by lawtoprepare periodical statements in proper formshowing the state of financial systematic record of the daily events of a business leading to presentation of acompletefinancial pictureis knownas ACCOUNTING . Thus, Accountingis thelanguage of business. Abusiness enterprise speaks through ACCOUNTING .
Financial accounting is a useful tool to management and to external users such as shareholders, potential owners, creditors, customers, employees and government. ... An accounting system is to make available necessary and accurate information for ... Fixation of Selling Price: The price of any product consists of total cost and the margin ...
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