What is Management Accounting?

What is accounting?

Accounting =

‘… the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information’

American Accounting Association

Note:

‘economic information’ means accounting is financial and non-financial information.

 

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Further Reading

The importance of the Service sector.

“UK services sector bounces back after weak start to 2015, CBI data shows”

Management Accounting is historically seen as focusing on manufacturing, certainly many of the topics we look at are related to production, but most are also applicable to Services.

“Overall, the services sector represents more than three-quarters of UK output and has led the economy out of recession.”

http://www.theguardian.com/business/2015/aug/28/services-sector-bounces-back-weak-start-2015-cbi-figures