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Chapter 13





                            Management accounting






               3.1 Management accounting

                             Management accounting is carried out to assist management in
                             discharging their duties to plan, direct and control the operations of the
                             business.  It is concerned with the process of measuring, analysing,
                             interpreting and communicating information to management in a form
                             which is easy for them to understand.

               While there are no legally required formats for management accounts, there are
               several key management reports that are common to many businesses.

               Three of the most common are:

                    cost schedules

                    budgets


                    variance reports










































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