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Management Accounting:
- a)Is a clerical work
- b)Is accounting for future
- c)Is a recording technique of the management related transactions
- d)Is an analysis of the past business activities
Correct answer is option 'C'. Can you explain this answer?
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Management Accounting:a)Is a clerical workb)Is accounting for futurec)...
Management accounting, also called managerial accounting or cost accounting, is the process of analyzing business costs and operations to prepare internal financial report, records, and account to aid managers’ decision making process in achieving business goals. In other words, it is the act of making sense of financial and costing data and translating that data into useful information for management and officers within an organization.
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Management Accounting:a)Is a clerical workb)Is accounting for futurec)...
Management Accounting:
• Management accounting is a process of identifying, measuring, analyzing, interpreting, and communicating financial and non-financial information to the management for planning, controlling, and decision-making purposes.
• It is concerned with providing information to the management for effective decision-making, planning, and controlling activities.
• It is not a clerical work, but a professional activity that requires knowledge and expertise in accounting, finance, and management.
• It is not only accounting for the future but also analyzing the past and present business activities to identify opportunities for improvement and make informed decisions.
• It is a recording technique of the management-related transactions, but its scope is not limited to recording transactions only. It also involves analyzing and interpreting the data to provide meaningful information to the management.
• Management accounting provides information to the internal stakeholders of the organization, such as the management, employees, and shareholders, and not to the external stakeholders like the creditors, suppliers, and customers.
Conclusion:
In conclusion, management accounting is a professional activity that involves identifying, measuring, analyzing, interpreting, and communicating financial and non-financial information to the management for planning, controlling, and decision-making purposes. It is not a clerical work or limited to accounting for the future only, but it involves analyzing the past and present business activities to provide meaningful information to the management. It is a recording technique of the management-related transactions, but its scope is not limited to recording transactions only.
• Management accounting is a process of identifying, measuring, analyzing, interpreting, and communicating financial and non-financial information to the management for planning, controlling, and decision-making purposes.
• It is concerned with providing information to the management for effective decision-making, planning, and controlling activities.
• It is not a clerical work, but a professional activity that requires knowledge and expertise in accounting, finance, and management.
• It is not only accounting for the future but also analyzing the past and present business activities to identify opportunities for improvement and make informed decisions.
• It is a recording technique of the management-related transactions, but its scope is not limited to recording transactions only. It also involves analyzing and interpreting the data to provide meaningful information to the management.
• Management accounting provides information to the internal stakeholders of the organization, such as the management, employees, and shareholders, and not to the external stakeholders like the creditors, suppliers, and customers.
Conclusion:
In conclusion, management accounting is a professional activity that involves identifying, measuring, analyzing, interpreting, and communicating financial and non-financial information to the management for planning, controlling, and decision-making purposes. It is not a clerical work or limited to accounting for the future only, but it involves analyzing the past and present business activities to provide meaningful information to the management. It is a recording technique of the management-related transactions, but its scope is not limited to recording transactions only.
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Management Accounting:a)Is a clerical workb)Is accounting for futurec)Is a recording technique of the management related transactionsd)Is an analysis of the past business activitiesCorrect answer is option 'C'. Can you explain this answer?
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Management Accounting:a)Is a clerical workb)Is accounting for futurec)Is a recording technique of the management related transactionsd)Is an analysis of the past business activitiesCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Management Accounting:a)Is a clerical workb)Is accounting for futurec)Is a recording technique of the management related transactionsd)Is an analysis of the past business activitiesCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Management Accounting:a)Is a clerical workb)Is accounting for futurec)Is a recording technique of the management related transactionsd)Is an analysis of the past business activitiesCorrect answer is option 'C'. Can you explain this answer?.
Management Accounting:a)Is a clerical workb)Is accounting for futurec)Is a recording technique of the management related transactionsd)Is an analysis of the past business activitiesCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Management Accounting:a)Is a clerical workb)Is accounting for futurec)Is a recording technique of the management related transactionsd)Is an analysis of the past business activitiesCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Management Accounting:a)Is a clerical workb)Is accounting for futurec)Is a recording technique of the management related transactionsd)Is an analysis of the past business activitiesCorrect answer is option 'C'. Can you explain this answer?.
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