In management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions. One simple definition of management accounting is the provision of financial and non-financial decision-making information to managers. According to the Institute of Management Accountants: "Management accounting is a profession that involves partnering in management decision making, devising planning and performance management systems, providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy". Management accountants look at the events that happen in and around a business while considering the needs of the business. From this and estimates emerge. Cost accounting is the process of translating these estimates and data into knowledge that will be used to guide decision-making.
The Chartered Institute of Management Accountants, the largest management accounting institute with over 100,000 members describes "Management accounting as analysing information to advise business strategy and drive sustainable business success". The Association of International Certified Professional Accountants states that management accounting as practice extends to the following three areas: Strategic management — advancing the role of the management accountant as a strategic partner in the organization Performance management — developing the practice of business decision-making and managing the performance of the organization Risk management — contributing to frameworks and practices for identifying, measuring and reporting risks to the achievement of the objectives of the organizationThe Institute of Certified Management Accountants states, "A management accountant applies his or her professional knowledge and skill in the preparation and presentation of financial and other decision oriented information in such a way as to assist management in the formulation of policies and in the planning and control of the operation undertaking".
Management accountants are seen as the "value-creators" amongst the accountants. They are more concerned with forward-looking and taking decisions that will affect the future of the organization, than in the historical recording and compliance aspects of the profession. Management accounting knowledge and experience can be obtained from varied fields and functions within an organization, such as information management, efficiency auditing, valuation and logistics. In 2014 CIMA created the Global Management Accounting Principles; the result of research from across 20 countries in five continents, the principles aim to guide best practice in the discipline. Management accounting information differs from financial accountancy information in several ways: while shareholders and public regulators use publicly reported financial accountancy, only managers within the organization use the confidential management accounting information while financial accountancy information is historical, management accounting information is forward-looking.
Focus: Financial accounting focuses on the company as a whole. Management accounting provides detailed and disaggregated information about products, individual activities, plants and tasks; the distinction between traditional and innovative accounting practices is illustrated with the visual timeline of managerial costing approaches presented at the Institute of Management Accountants 2011 Annual Conference. Traditional standard costing, used in cost accounting, dates back to the 1920s and is a central method in management accounting practiced today because it is used for financial statement reporting for the valuation of income statement and balance sheet line items such as cost of goods sold and inventory valuation. Traditional standard costing must comply with accepted accounting principles and aligns itself more with answering financial accounting requirements rather than providing solutions for management accountants. Traditional approaches limit themselves by defining cost behavior only in terms of production or sales volume.
In the late 1980s, accounting practitioners and educators were criticized on the grounds that management accounting practices had changed little over the preceding 60 years, despite radical changes in the business environment. In 1993, the Accounting Education Change Commission Statement Number 4 calls for faculty members to expand their knowledge about the actual practice of accounting in the workplace. Professional accounting institutes fearing that management accountants would be seen as superfluous in business organizations, subsequently devoted considerable resources to the development of a more innovative skills set for management accountants. Variance analysis is a systematic approach to the comparison of the actual and budgeted costs of the raw materials and labour used during a production period. While some form of variance analysis is still used by most manufacturing firms, it nowadays tends to be used
The Siege of Mount Hiei took place in 1571 and was a battle between the warlord Oda Nobunaga and the sōhei of the monasteries of Mount Hiei, north of the capital city Kyoto, western Japan. Oda Nobunaga led 30,000 men in destroying temples on the mountain and near its base. About 300 buildings were burnt to the ground; this event would mark the end of the great power of Mt. Hiei's warrior monks; the Tendai monks of Mt. Hiei were long great enemies of Oda Nobunaga, due to their strength and independence, due to their alliance with the Azai and Asakura clans. Beginning on September 29, Nobunaga's men attacked the town of Sakamoto at the base of the mountain before moving up towards the Tendai temples, he destroyed the Hiyoshi shrine honoring the kami of the mountain, Sannō. Nobunaga's massive force encircled the mountain and moved upwards and destroying anyone or anything in their way, they made their way to Enryaku-ji, the powerful and famous temple at the summit, razed to the ground. His arquebusiers formed search parties and eliminated anyone who had escaped their attack.
George Sansom states, "The whole mountainside was a great slaughterhouse, the sight was one of unbearable horror." According to Stephen Turnbull, so one-sided was the siege that it should more rightfully be called a massacre than a siege or battle. Only one minor building survived, the Ruri-dō, located down a long, unmarked path from the Sai-tō complex; the structure dates to the 13th century and was repaired twice in the 20th century. Reconstruction of Enryaku-ji commenced not long after the death of Oda Nobunaga and his successor Toyotomi Hideyoshi, but never regained its former size. Turnbull, Stephen. Japanese Warrior Monks AD 949–1603. Oxford: Osprey Publishing. Turnbull, Stephen. Japanese Fortified Temples and Monasteries AD 710–1602. Oxford: Osprey Publishing
The Baldwin Peninsula is a peninsula located on the Arctic Circle in the northwestern region of the U. S. state of Alaska, at 66°33′06″N 161°55′44″W. It extends 72 km into Kotzebue Sound from the Alaska mainland and defines the south boundary of Hotham Inlet, it is 2–19 km wide. The city of Kotzebue and Ralph Wien Memorial Airport are located at the end of the peninsula; the remainder of Baldwin Peninsula is covered with permafrost and hundreds of tundra lakes. Tundra lakes on Baldwin Peninsula, photos USGS Geographic Names Information System, Baldwin Peninsula