Origin of Managementaccounting
The term management accounting is of arecent origin.
The complexities of business environmenthave necessitated the use of managementaccounting for planning, coordinating,controlling and decision-making functions of management.
A small entrepreneur can manage with all theday to day transactions.
The use of simple accounting enables thepreparation of profit and loss account andbalance sheet for determining profitability andassessing financial position of the enterprise.
All informational needs for managerialpurposes are, met by simple financial