Management Accounting can be defined as the application of accounting skill or profession towards assisting management in their functions or responsibilities or in planning, controlling and decision making.
Management Accounting is one of the branches of accounting that uses the knowledge garnered from other branches of accounting.
Management accounting is the broadest area of accounting that involves adequate and in-depth knowledge of managerial accounting, cost accounting, financial accounting, cost management, tax accounting, internal auditing etc
Managerial accounting involves generating information for internal users including all levels of management and others within the organization.
This makes the top management level of an organization to appreciate the valuable contribution of management accountant. To be a Management Accountant, it’s essential to have qualifications from the Chartered Institute of Management Accountants (CIMA) or any other relevant body.