CIMA defines management accounting as "provision of information required by the management for such purposes as formulation of policies, planning and...

CIMA defines management accounting as “provision of information required by the management for such purposes as formulation of policies, planning and controlling the activities of the enterprise, decision taking on the alternative courses of action, disclosure to those external to the entity (shareholders and others), disclosure to employees and safeguarding assets. Cost accounting and management accounting have basically the same functions.