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| Meaning of Management Accounting |
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Any form of accounting which enables a business to be conducted more efficiently can be regarded as Management Accounting. (Institute of Chartered Accountants of India- ICAI).
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Management Accounting is the
application of professional knowledge and skill in the preparation of accounting information in such a way as to assist management in the formation of policies and in the planning and control of operations of undertaking. (International Capital Market Association, London- ICMA).
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| Financial Management |
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Financial Accounting, Managerial Accounting and Financial Management: Relationship.
- Financial Management deals with raising and utilization of funds.
- Raising of funds may include Cost of Capital, Capital Structure decisions, Capital Markets, IPOs and so on.
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Financial Management deals with raising and utilization of funds.
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Utilization of funds may include Capital Budgeting, Portfolio Management, Working Capital Management and so on.
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