Define the Management or Managerial Accounting System.
Ans. As the name suggest management or managerial accounting system refers to the Management of the firm or company, the most latest development in the field of Accounting is the Management Accounting, mainly it serves the Management of the company or organization, all the reports generated under Management Accounting system are purely usage of Management only. Manager can make much decision on basis of these prepared reports for future of the organization in order to yield most of profits.