The Institute of Cost Accountants of India (ICMAI), which was previously known as The Institute of Cost & Works Accountants of India (ICWAI) is a professional accountancy body in India. It is under the ownership of Ministry of Corporate Affairs of the Government of India. It has as its prime responsibility to contribute to the cost and management accounting profession at the global level.
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Management accounting
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In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions.
IFAC Definition of enterprise financial management concerning three broad areas: cost accounting; performance evaluation and analysis; planning and decision support. Managerial accounting is associated with higher value, more predictive information. Copyright July 2009, International Federation of Accountants
Managerial costing time line Used with permission by the author A. van der Merwe. Copyright 2011. All Rights Reserved.