FACTORS THAT INFLUENCED THE CHANGE IN MANAGEMENT ACCOUNTING  part 1 1000w

Accounting is a process of identifying, measuring, and communicating economic information to permit informed judgements and decisions by the users of the information’

The history of accountancy has progressed in combination with civilization and commerce. The literature provides evidence that Paciolo in 1494 founded the concept of accounting by publication of ‘Summa de Arithmetical’. He presented accounting in methodical form that became a science later on.

The definition suggests that accounting is about providing economic information to others and it relates to the financial or economic activities of the organisation. Accounting information is identified and measured by the way of a set of accounts or double-entry bookkeeping.

2.1.1 Management accounting

Management accounting is that part of accounting which provides decision making information to managers for use in planning and controlling operations (Seal at all, 2006). The term of management