Managerial Accounting — is the process of identifying, measuring, accumulating, analyzing, preparing, interpreting and communicating information used by management to plan, evaluate and control within the organization and to ensure appropriate and accountable use of resources.
To manage the enterprise, detailed information is needed, which takes into account the technology and organization of this particular enterprise. Therefore, management accounting information is formed and provided taking into account the needs of managers of a particular enterprise. The ultimate goal of management accounting is to help management achieve the strategic goal of the enterprise.
Management accounting is significantly different from traditional accounting, which is focused on the preparation of financial statements. Unlike financial accounting, which is conducted in compliance with certain official regulations (instructions, standards, etc.) established by government bodies or professional organizations, managerial accounting is not limited in the choice of methods and rules. Its forms and methods are developed by the enterprise itself, taking into account various parameters, taking into account not only regulatory quantitative, but also qualitative indicators when preparing options for management decisions.
The information provided by management accounting is aimed at meeting the needs of both strategic and current management, optimizing the use of resources, providing an objective assessment of the activities of divisions and individual managers. So, management accounting is a component of the management process and provides information important for:
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