Preparation and presentation of management accounting, professional knowledge, and skills. In order to assist in the planning and control of the policies of the equipment and the management of operations. (Management Accounting – Nature and Characteristics)

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Nature and Characteristics of Management Accounting
This work is edited by such techniques and trends with special knowledge and skill.
Force on the nature of cost elements Special attention is given to the nature of cost elements in management accounting. Because of the various options for making this right decision are evaluated by accounting based on cost-benefit analysis.
Following are Nature and Characteristics of Management Accounting:
1. Management Accounting is Service work
Managing Accounting is a service task. Under which the information required for managers to determine the policies of the institution and making judicious decisions is made available on time.
This information may be related to the cost, prices, returns, profits economic elements.
Which are used to achieve the definite goal of the management institution?
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2. Incorporation of Multiple Methods
Managing Accounting is a multi-system that involves many topics, systems, methods, procedures, formats, and other related facts.
In addition to the practical use of knowledge of economics, statistics, business, psychology, etc., along with cost accounting, financial accounting, budget control, standard cost, more techniques are used.
3. Future Related
Management accounting does not depend on past facts only. The past fact explains “only what has happened” while “what the level of efficiency should be” do not light up.
Therefore, management accounting places more emphasis on the future. Under this plan, plans and forecasts are prepared for the future and when this future is seen as present.
It is critical analysis – budget control system and standard cost accounting and variance analysis system are used.
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4. Rule of Uncertain Nature
The rules of management accounting are not of a certain nature as in financial accounting.
So, In order to fulfill the specific purpose of the management, the managing accountant can present the data by making rules by itself, in addition to the commonly accepted rules on different subjects, so that managers are able to make decisions.
Read also:
- Top 8 Nature and Characteristics of Management Accounting
- Top 9 Limitations or Disadvantages of Management Accounting
5. Force on the Nature of Cost Elements
Special attention is given to the nature of cost elements in management accounting. Because the various options for making this right decision are evaluated by accounting based on cost-benefit analysis.
Hence, the cost is divided into Fixed, variable and semi-variable.
Many methods of management accounting, such as marginal cost analysis, direct cost analysis, cost-quantity-profit analysis, etc. are based on this classification.
On the basis of the specialty of managing to account, it is said that “management accounting is an extension of the managerial aspect of cost accounting”.
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6. Selective System
Management Accounting is a selective nature. different similar nature and specialty schemes are studied comparatively.
The plan which gives the most benefit and is the best is chosen.
In the same way, only the same information is provided by the many information available to a subject before management. whose information is important for management.
Thus, this very good part of Management Accounting – Nature and Characteristics.
7. Facts Presentation in Management Accounting
The managing accountant raises the necessary element to come into effect. And the analysis and renders them in front of managers and does not make decisions themselves. Decision making is the work of management.
It depends on the skill and ability to manage, to what extent it uses this information.
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It’s like a map that tells a traveler who travels in some direction to tell where he will go.
8. Cause Result Analysis
Management accounting “puts special emphasis on causes and results”.
For example, only the quantity of profit is known in financial accounts. Whereas in management accounting it is known that the benefits came from the which reasons.
Hence, the cost is divided into Fixed, variable and semi-variable. Many methods of management accounting, such as marginal cost analysis, direct cost analysis, cost-volume-profit analysis, etc. are based on this classification. so
On the basis of the specialty of management accounting, it is said that “management accounting is an extension of the managerial aspect of cost accounting”.
Thus, Now able To Find Management Accounting – Nature and Characteristics.
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