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Definition of

management accounting

Treasury Management

use of accounting principles to benefit organization the application of the principles of accounting and financial management to create, protect, preserve, and increase value so as to deliver that value to the stakeholders of profit and nonprofit enterprises, both public and private. Management accounting is an integral part of management, requiring the identification, generation, presentation, interpretation, and use of information relevant to formulating business strategy; planning and controlling activities; decision making; efficient resource usage; performance improvement and value enhancement; safeguarding tangible and intangible assets; and corporate governance and internal control.

Recommended Further Reading (Term count)
  • Mastering Financial Management: Demystify Finance and Transform Your Financial Skills of Management
    Stephen Brookson (1998)
    Enables business managers and executives to master the essentials of financial management, and to learn techniques of immediate use. Explains commercially vital concepts, processes, practices, and terminology, and shows how they should best be adopted and implemented. Covers finance and accounting in a way that brings competitive advantage to those previously with little knowledge of the subject.
  • Managing Financial Resources
    Mick Broadbent and John Cullen (3rd ed 2003, originally 1993)
    Addresses the complexities of financial planning and control, and explains key concepts. Focuses on finance for the non-financial manager, helping them understand the principles involved in managing financial resources. Makes it easier for educators to prepare materials, and structure courses for students at different levels.
  • Management Accounts
    Company accounts fall into two categories: financial and management. While financial accounts are regulated and audited reports of financial transactions and processes, the management accounts are designed to help key business executives understand the overall performance of the business. Most companies produce these reports monthly or quarterly.
  • Challenges Faced by the Audit Profession After the Crash
    by James Chadwick
    In a sense, this is part of the larger question about audit quality, which has never gone away and continues to be a perennial concern. To place this in context, the audit profession is subject to continuous review of the quality of its work. This is part of the brief of the Financial Reporting Council (FRC), which is responsible for upholding the quality of the audits of the financial statements of all companies in the United Kingdom. As such,...

Definitions of ’management accounting’ and meaning of ’management accounting’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’management accounting’ and other financial terms with our online QFINANCE Financial Dictionary.

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