Management accounting reports also known as cost accounting reports are designed for offering internal information to organizations or companies through financial accounting. The purpose of management accounting reports is to help in planning, monitoring and in determining decisions on the way forward. Management accountants depend on standard financial reports such as income reports, the balance sheet report, cash flow reports and many other management accounting reports in examining and determining company information.
Management accounting combines accounting, finance and management with the business skills and techniques you’ll need to add real value to any organisation. Management accountants are qualified to work across the business, not just in finance, advising managers on the financial implications of big decisions, formulating business strategy and monitoring risk – much more than just crunching numbers.