"Management accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of financial information used by management to plan, evaluate, and control within an organization and to assure appropriate use of and accountability for its resources Management accounting also comprises the preparation of financial reports for non-management groups such as shareholders, creditors, regulatory agencies, and tax authorities " Statement Number 1A, March 19, 1981, National Association of Accountants
Reporting designed to assist management in decision-making, planning, and control Also known as Managerial Accounting Topic areas: Fundraising and Financial Sustainability
The application of accounting and financial management principles to create, protect, preserve and increase value so as to deliver that value to stakeholders of for-profit and not-for-profit enterprises, both public and private (see Chapter 1 for an expanded definition)
The provision of information required by management in the formulation of policies, planning and controlling the activities of their corporation, and selecting the appropriate course of action from the available opportunities