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The term Management Accounting is given to the practice of using accounting information systems for decision making at a managerial level. So, it is also known as managerial accounting by some accountants and financial analysts. Accounting has always been one of the most important parts of any business because it helps the managers to keep track of their finances. The whole idea of management accounting revolves around using computer programs for analyzing financial data, creating reports using activity-based costing and then using those reports for decision making.
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