{"id":8167,"date":"2023-09-14T08:30:11","date_gmt":"2023-09-14T08:30:11","guid":{"rendered":"https:\/\/commerceiets.com\/?p=8167"},"modified":"2023-09-14T08:32:54","modified_gmt":"2023-09-14T08:32:54","slug":"management-accounting-process-10-steps","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/management-accounting-process-10-steps\/","title":{"rendered":"MANAGEMENT ACCOUNTING PROCESS"},"content":{"rendered":"\n

MANAGEMENT ACCOUNTING PROCESS<\/strong><\/h2>\n\n\n\n

The management accounting process begins with identification, measurement and accumulation of relevant data from financial and cost accounting records, and also from other external sources. The data is then regrouped, classified and analysed. The interpretations are made and information is communicated to internal and external users of such information for making decisions. Decision making is linked to planning and control. Variations from plans are identified and feedback is built up for corrective measures. The figure below depicts the process of management accounting<\/p>\n\n\n\n

\"MANAGEMENT
MANAGEMENT ACCOUNTING PROCESS<\/strong><\/figcaption><\/figure>\n\n\n\n

The process of management accounting involves several key steps or stages that help organizations plan, control, and make informed decisions about their finances and operations. Here is an overview of the typical process of management accounting:<\/p>\n\n\n\n

\"MANAGEMENT
MANAGEMENT ACCOUNTING PROCESS<\/strong><\/figcaption><\/figure>\n\n\n\n
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  1. Data Collection<\/strong>:\n