Management accounting is the process of providing detailed information to the management of current and planned events. This information assists managers in their role of planning, controlling and making decisions. Usually, management accounts are available to internal users of accounting information.
Management accounting is concerned with the accumulation, classification and interpretation of information that assists individual executives to fulfil organizational objectives.
Management information contains information such as department budgets, product profitability and information on production costs
Management accounting can also be defined as the presentation of accounting information in such a way as to assist the management in the creation of policy and the day-to-day operation of an undertaking.