Management accounting: its concept and importance in administrative decision-making processes

Management accounting is a branch of accounting that focuses on providing financial and administrative information to senior management in institutions and companies. Management accounting aims to analyze financial data and provide valuable information that helps in making the right management decisions.

The main objectives of management accounting include:

1. Providing accurate information: Management accounting aims to collect and analyze financial data and other information to provide a comprehensive and accurate picture of the financial performance and internal operations of the company. This information helps management understand the current situation, identify strong and weak points and take necessary actions.
2. Management decision making: Management accounting provides the information necessary to make strategic and tactical decisions in an organization. This information guides management in areas such as strategic planning, evaluating investments, improving operational efficiency, and setting objectives and key performance indicators.