Explain importance of management accounting in business.

QuestionsCategory: QuestionsExplain importance of management accounting in business.
Parvez Alam asked 9 months ago

importance of management accounting in business

1 Answers
Afaq Jafri answered 9 months ago

There are many advantages of Management Accounting in Business. Some are the following:
Management Accounting helps in Decision Making: Management accounting helps in decision making such as pricing, make or buy, acceptance of additional orders etc. 
Management Accounting helps in Planning: Planning includes profit planning, preparation of budgets, programmes of capital investment and financing. Management accounting helps in planning through budget control etc.
Economic Appraisal: Management accounting includes appraisal of social and economic forces and goverment policies. 

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