BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Management accounting provides necessary information to assist the management in the creation of policy and in the day-to-day operations. It enables the management to discharge all its functions i.e. planning, organization, staffing, direction and control efficiently with the help of accounting information.

Detailed explanation-2: -Hence it assists the management in planning the business activities. Since management accounting presents various charts, forecasts and analysis the management uses it for decision making. If a product is not performing well the management can identify it early on as the accounts are presented at regular intervals.

Detailed explanation-3: -Managerial accounting (also known as cost accounting or management accounting) is a branch of accounting that is concerned with the identification, measurement, analysis, and interpretation of accounting information so that it can be used to help managers make informed operational decisions.

Detailed explanation-4: -Managerial accounting is mostly used in scenarios where quick decisions need to be made to help managers optimise business operations. Accounting information is used by managers to plan, evaluate the company performance and manage risks.

Detailed explanation-5: -The main objective of managerial accounting is to assist the management of a company in efficiently performing its functions: planning, organizing, directing, and controlling.