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As per Cost & Management Accountant , London the Management Accounting is concerned with presentation of professional knowledge to reveal accounting information which will help the management in formulation of policy decisions , its implementation and to take control accordingly of the organisation.
So in short we can say that the Management Accounting is a system of preparing various reports of business operations that will help managers to take short term and long term decisions.
The various reports can be categorised as under --
1] Budgetory Reports
For preparing various budgets like Cash Budget, Production , Sales Budget etc.
2] Cost Managerial Accounting Reports
Various costs like material , labout , overhead etc.
3] Other Managerial Accounting Reports
Project reports, order info reports, competitors analysis etc.
4] Accounts Receivable Aging Reports
It calculates average collection period of debtors to ensure finacial efficiency
5]Peformance Reports
Budget vs Actual, Performance review, Variance analysis etc
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