Management accounting or managerial accounting is concerned with the provisions and use of
accounting information to managers within entity, to give them with the basis to make
informed business ideas that will allow them to be better equipped in their management and
control functions.
In connection to financial accountancy information, management accounting data is:
- primarily forward-looking, in place of historical
- model based with a degree of abstraction to support ideas created generically, instead of case based;
- usually important and used by management, instead of reporting publically;
- Computed by reference to the needs of managers, often using management data systems, instead of by reference to general financial AS.
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