The word ‘Management’ means getting the work done through people for a common purpose. The basic functions of management are Decision making, Planning and Controlling and all these functions are possible only through proper flow of accounting information to the management. Management accounting is a process of providing accounting information to the management which helps them to take proper decision, proper planning and establishing better control in the organization. Management needs various information, in order to cope up with the future changes or fluctuations. Management accounting produces right information related to past and present operation to the right people at the right time. Thus, it is concerned with giving accounting information for effective decision making to the management.
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