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Management Accounts Important Questions

This document outlines important questions about management accounting including: 1) Defining management accounting and how it differs from cost accounting. 2) Discussing how management accounting is used as a tool for decision making and control. 3) Explaining the roles and limitations of management accounting compared to financial accounting. It also discusses budgets, budgetary control systems, standard costing, variance analysis, marginal costing, and notes on zero based budgeting, fixed and flexible budgets, and activity based budgeting.

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Subhasish Mitra
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16K views

Management Accounts Important Questions

This document outlines important questions about management accounting including: 1) Defining management accounting and how it differs from cost accounting. 2) Discussing how management accounting is used as a tool for decision making and control. 3) Explaining the roles and limitations of management accounting compared to financial accounting. It also discusses budgets, budgetary control systems, standard costing, variance analysis, marginal costing, and notes on zero based budgeting, fixed and flexible budgets, and activity based budgeting.

Uploaded by

Subhasish Mitra
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Important Question of Management Accounting

1. Define Management Accounting. Explain nature and scope of Management Accounting.


How is it different from Cost Accounting?
2. Discuss the use of Management Accounting as a tool in decision making and exercising
control.
3. Discuss in brief the roles and limitation of Management Accounting. How is it different from
financial accounting?
4. What do you mean by Budget and Budgetary Control System? Explain different types of
budgets.
5. Define Budget. How the budgets are different from forecasts?
6. What do you mean by Budgetary Control? Explain the objective of Budgetary Control with
Special reference to a large manufacturing concern.
7. What is standard Costing? Explain the preliminary steps for establishing a system of standard
costing. State its advantages.
8. Variance analysis is an integral part of standard cost accounting. Explain this statement.
9. Marginal Costing is essentially a technique of cost analysis and cost presentation. Discuss
this statement with reference to application, merits and limitation of Marginal Costing.
10. Write short note on:
a. Zero Based Budgeting b. Fixed and Flexible Budgets c. Activity Based Budgeting.

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