Management accounting focuses on providing financial and non-financial information to managers to aid in decision-making, planning, and performance evaluation within an organization. It emphasizes internal processes and future-oriented reports, differing from financial accounting, which is more externally focused and historical in nature.

Management Accounting

Management accounting

financial information

Non-financial information refers to data that is not expressed in monetary terms but is crucial for assessing a company's overall performance, risks, and opportunities. It includes metrics related to environmental, social, and governance (ESG) factors, which are increasingly important for stakeholders in evaluating long-term sustainability and ethical impact.

non-financial information

Decision-making is a cognitive process that involves selecting a course of action from multiple alternatives, often under conditions of uncertainty. It is influenced by various factors such as individual biases, available information, and the decision-making environment.

decision-making

Planning is a cognitive process that involves setting goals, developing strategies, and outlining tasks and schedules to achieve desired outcomes. It is essential for effective decision-making and resource management, enabling individuals and organizations to anticipate future challenges and opportunities.

planning

Performance evaluation is a systematic process to assess an individual's job performance and productivity in relation to established criteria and organizational objectives. It provides feedback to employees, identifies areas for improvement, and informs decisions related to promotions, compensation, and professional development.

performance evaluation

internal processes

future-oriented reports

Financial accounting is the process of recording, summarizing, and reporting a company's financial transactions through standardized reports such as balance sheets, income statements, and cash flow statements. It provides crucial information for stakeholders to assess the financial health and performance of an organization, ensuring transparency and aiding in decision-making.

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