Accounting policy of management accounting: myth or reality

Aneliya Atanasova

Economic Thought journal, 2017, issue 5, 154-167

Abstract: The corporate accounting policy is an important tool for organizing and presenting the information in the annual financial statements. Depending on the goals set by the corporate management various options of accounting policy could be selected, in order to be implemented by the management. Therefore the corporate financial result could be distorted and even manipulated. For the management purposes, it becomes increasingly important to acquire timely and more detailed information that can not be obtained from financial accounting but can be provided by management accounting. Hence the question is raised of the necessity to develop and implement an accounting policy for management accounting because the same accounting policy can not achieve the different purposes of the two accounting systems. In this regard, the stated objective is to clarify the reasons for developing an accounting policy for management accounting, the meaning of this concept and its differences from the accounting policy for financial accounting.

Date: 2017
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