Management Tutors Extends Accounting for Management Assistance There is a fine correlation between accounting and management and the students pursuing these subjects need a lot of help to understand its intricacies. Accounting is an art of recording, classifying, summarising and interpreting the results thereon. Accounting refers to the keeping track of transactions financial in nature. Also, it is known as the language of business and the primary objective of every language is to serve as a means of communication. Accounting can be a standard language s everal accounting principles, standards and concepts have been developed over a period of time. Accounting encompasses all the functions, which are performed by a modern system. Accounting emerged as a tool meant for industrial development by the time of industrial revolution. There are several branches of accounting, including cost accounting, financial accounting, managerial accounting, etc. According to the spokesperson of Management Tutors, a renowned and reliable academic portal, â€œWe at Management Tutors are always available to help the students with the best accounting for management assistance and guidance. This help has been created to make topics of accounting simple and easy to understand for the individuals, who want to get information about any topic of managerial or financial accounting. The site for managerial accounting has been divided into three sections- exercises, problems and explanations. The accounting for management or managerial accounting is the accounting, in which managers make use provisions of accounting information, in order to inform themselves better before they decide matter within the organizationâ€?. The managerial accounting deals particularly in three areas:
1. Performance management: developing the practice of business decision making and managing the performance of an organization. 2. Strategic management: this advances the role of management accounting, as a strategic partner in the organization.
3. Risk management: contributing to frameworks and practices for measuring, identifying, reporting and managing risks to the achievement of the objectives of an organization. Also, the financial accounting is different from management accounting in many ways. Financial accounting focuses on the company as a whole. While the management account ing provides detailed information about the products, plants, divisions, tasks and operations. The information in financial accounting is historical in nature and in management accounting, it is forward looking. If you are looking for high quality academic help and guidance, Read More Information Click Here to Management Tutors Extends Accounting for Management Assistance You Can Contact us at
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Management Tutor is a reliable academic company offering high-end guidance and help to the students pursuing accounting for management
Published on Feb 16, 2017
Accounting encompasses all the functions, which are performed by a modern system. Accounting emerged as a tool meant for industrial developm...