Provides the information needed to assist management in policy creation and day-to-day operations. It enables the management to carry out all its functions i.e. planning, organizing, staffing, directing and controlling efficiently with the help of accounting information. Management accounting functions include all activities related to the collection, processing, interpretation and presentation of information to management. According to J. Batty, 'management accounting' is the term used to describe accounting methods, systems and techniques which, combined with special knowledge and skills, assist management in its task of maximizing profits or minimizing losses. Management accounting is related to the definition of cost centers, the preparation of budgets, the preparation of cost control accounts and the establishment of responsibility for various