What Is Management Accounting and Its Functions? Management accounting is the process of preparing reports about business operations that help managers make short-term and long-term decisions. It helps a business pursue its goals by identifying, measuring, analysing, interpreting and communicating information to managers. What Is a Management Accounting System? Internal management accounting systems are used to provide critical information to management to be used in operational business decision-making. A manufacturing company might use these systems to help in the costing
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