What is management accounting?

Management accounting is concerned with looking at actual transactions in different ways from financial accounting. In this way, management accounting is able to provide information to help the business or organisation plan for the future.

The main features of management accounting are that it:

Looks in detail at the costs and sales income
Looks forward to show what is likely to happen in the future
Uses estimates
Provides management with reports
Used internally
Maintains confidentiality of information

	Created by Katie Start about 10 years ago

Elements of costing 2016 specification

Chapter 1