The Management Accounting Series
Management accounting deals with information, both financial and non-financial, that helps managers make better decisions. This differs from financial accounting in a few ways.
First of all, financial accounting aims at presenting the company’s financial conditions to external parties, such as investors and journalists. Management accounting, on the other hand, aids internal users of a company like managers and executives. What follows is that there are no specific rules in compiling reports in management accounting (as they are not presented to outside parties), while financial statements in financial accounting have to comply with relevant accounting standards.
Absorption Costing vs Variable Costing: The difference in operating income under absorption costing and variable costing
Cost Accounting: A Managerial Emphasis (Fifteenth ed.) by Horngren, Datar and Rajan