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Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented.
The management accounting practice was originally discussed in a series of articles published in The Engineering Magazine. As was typical of early management accounting practice after the industrial revolution, it was a topic of interest to engineers.
The Chartered Institute of Management Accountants (CIMA) is the global professional management accounting body, based in the United Kingdom. CIMA offers training and qualification in management accountancy and related subjects. It is focused on accountants working in industry and provides ongoing support and training for members.
Management accounting in supply chains (or supply chain controlling, SCC) is part of the supply chain management concept. This necessitates planning, monitoring, management and information about logistics and manufacturing processes throughout the value chain. The goal of management accounting in supply chains is to optimise these processes.
Accounts payable gives companies some wiggle room in their cash flow management. You won’t necessarily need to have the funds to pay for the goods and services you need on hand.
A cash management account is an alternative to a traditional checking or savings account, which is offered by brokerage firms and robo-advisors. They help customers keep large sums of money secure ...
A money market account (MMA) is a middle ground between checking and high-yield savings accounts. They're offered by traditional banks, online banks and credit unions as a way to earn higher ...
In bookkeeping, a general ledger is a bookkeeping ledger in which accounting data are posted from journals and aggregated from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects. [1]