Management accounting

managerial accountingmanagement accountantmanagement accountancycontrolManagerialcontrollingcontrolsCost accountingcost controlfinance
In management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions.wikipedia
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Accounting

accountancyaccountantAccounts
In management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions.
Accounting can be divided into several fields including financial accounting, management accounting, external auditing, tax accounting and cost accounting.

Financial accounting

financial accountsaccountingfinancial accountancy
Management accounting information differs from financial accountancy information in several ways:
While financial accounting is used to prepare accounting information for people outside the organization or not involved in the day-to-day running of the company, managerial accounting provides accounting information to help managers make decisions to manage the business.

Variance (accounting)

variance analysisvariancevariable budgeting
Variance analysis is a systematic approach to the comparison of the actual and budgeted costs of the raw materials and labour used during a production period.
In budgeting (or management accounting in general), a variance is the difference between a budgeted, planned, or standard cost and the actual amount incurred/sold.

Resource consumption accounting

Resource Consumption Accounting (RCA)
Another accounting practice available today is resource consumption accounting (RCA).
Resource Consumption Accounting (RCA) is a management theory describing a dynamic, integrated, and comprehensive management accounting approach that provides managers with decision support information for enterprise optimization.

IT cost transparency

A function of management accounting in such organizations is to work closely with the IT department to provide IT cost transparency.
It is increasingly a task of management accounting.

Financial modeling

financial modelfinancial modellingFinancial models
(See financial modeling.) Conversely, the preparation of certain financial reports, reconciliations of the financial data to source systems, risk and regulatory reporting will be more useful to the corporate finance team as they are charged with aggregating certain financial information from all segments of the corporation.
Scenario planning and management decision making ("what is"; "what if"; "what has to be done" )

Activity-based costing

activity based costingABCActivity - Based Costing (ABC)
Activity-based costing (ABC) recognizes that, in modern factories, most manufacturing costs are determined by the amount of 'activities' (e.g., the number of production runs per month, and the amount of production equipment idle time) and that the key to effective cost control is therefore optimizing the efficiency of these activities.
8) Interpret results and prepare management reports.

Chartered Institute of Management Accountants

CIMAFCMAmanagement accountant
CIMA
The Chartered Institute of Management Accountants (CIMA) is a UK based professional body offering training and qualification in management accountancy and related subjects.

Certified Management Accountant

CMAcertified management accountancyCMA USA
CMA
Certified Management Accountant (CMA) is a professional certification credential in the management accounting and financial management fields.

Cost accounting

cost controlcost managementbudget management
Traditional standard costing (TSC), used in cost accounting, dates back to the 1920s and is a central method in management accounting practiced today because it is used for financial statement reporting for the valuation of income statement and balance sheet line items such as cost of goods sold (COGS) and inventory valuation.
Management accounting

Institute of Cost Accountants of India

Cost AccountantICAI-CMAICWA India
ICAI-CMA
It also issues other technical guidelines on several aspects like Internal Audit, Management Accounting etc. to be followed by practising Cost Accountants while discharging their services.

Association of Chartered Certified Accountants

ACCAChartered Certified AccountantAssociation of Chartered Certified Accountants (ACCA)
Chartered Certified Accountant (ACCA)
Subjects include: Financial accounting, Management accounting, Financial reporting, Taxation, Company law, Audit and assurance and Financial management.

Chartered Certified Accountant

FCCAACCAFellow of the Association of Chartered Certified Accountants
Chartered Certified Accountant (ACCA)
MA - Management Accounting

Throughput accounting

throughput
Throughput accounting
Throughput accounting (TA) is a principle-based and simplified management accounting approach that provides managers with decision support information for enterprise profitability improvement.

Chartered Global Management Accountant

CGMAAssociation of International Certified Professional Accountants
Chartered Global Management Accountant
Chartered Global Management Accountant (CGMA) is a professional management accounting designation issued beginning in January 2012.

Managerial risk accounting

Managerial risk accounting
As a part of the management accounting system and function, managerial risk accounting has the following two main purposes:

Comparison of management accounting and financial accounting

Differences between managerial accounting and financial accounting
The differences between management accounting and financial accounting include:

Standard cost accounting

standard costingstandard costhistorical costs
Traditional standard costing (TSC), used in cost accounting, dates back to the 1920s and is a central method in management accounting practiced today because it is used for financial statement reporting for the valuation of income statement and balance sheet line items such as cost of goods sold (COGS) and inventory valuation.
Traditional standard costing (TSC), used in cost accounting, dates back to the 1920s and is a central method in management accounting practiced today because it is used for financial statement reporting for the valuation of an income statement and balance sheets line items such as the cost of goods sold (COGS) and inventory valuation.

Management

managermanagersadministration
In management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions.

Strategic management

business strategycorporate strategystrategy
Strategic management — advancing the role of the management accountant as a strategic partner in the organization

Performance management

performanceemployee performancehuman performance
Performance management — developing the practice of business decision-making and managing the performance of the organization

Risk management

risk analysisriskrisk communication
Risk management — contributing to frameworks and practices for identifying, measuring, managing and reporting risks to the achievement of the objectives of the organization

Management information system

management information systemsMISmanagement information
while financial accountancy information is computed by reference to general financial accounting standards, management accounting information is computed by reference to the needs of managers, often using management information systems.

Cost of goods sold

production costproduction costsCOGS
Traditional standard costing (TSC), used in cost accounting, dates back to the 1920s and is a central method in management accounting practiced today because it is used for financial statement reporting for the valuation of income statement and balance sheet line items such as cost of goods sold (COGS) and inventory valuation.