The Role of Managerial Accounting in the Management Process

Ioana-Diana Bufan
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Ioana-Diana Bufan: West University Of Timisoara

Anale. Seria Stiinte Economice. Timisoara, 2013, vol. XIX, 73-76

Abstract: The process of accounting is in charge with identifying, measuring and communicating economic information in order to allow its users to make the correct decisions and judgments. First of all, it is important to distinguish between the two branches of accounting: managerial accounting, which deals with internal users of accounting information, and financial accounting, which provides information to external users. On the other hand, the concept of cost accounting is different from the one of managerial accounting, because it deals with the aggregation of costs that are used in valuation of stocks in order to meet external reporting requirements. Considering the functions of the management process, management accounting plays an important role in helping managers to lead the organization in an efficient way, regarding any of these functions.

Keywords: accounting information; cost accounting; financial accounting; managerial accounting; management process (search for similar items in EconPapers)
JEL-codes: M40 M41 M49 (search for similar items in EconPapers)
Date: 2013
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