lack of 'rules' and the role of management and cost accounting within an organization, and the consequences in which it may present to members of the organization, in particular management. It is also aimed to cover the relevant steps in reporting costs and the measurement of revenue. This will essentially lead to the understanding that "whatever the company and accountants want to do in reporting costs and revenue measurements" are not always acceptable.
             Management Accounting and Cost Accounting
             In order to understand this topic to its fullest extent, we must be completely familiar with management accounting and cost accounting. Management accounting is comprised of both the financial and non-financial aspects of accounting, which helps management, make accurate and valuable decisions, in order to fulfill the goals of the organization.
             Cost accounting however, provides information for management accounting, by measuring and reporting both financial and non-financial information, relating to the cost of acquiring various resources in an organization.
             With the increased amount of competition, and increased levels of uncertainty within the business environment, this has led to management of organisations having to make informed business decisions and maximize their company's financial performance (Ashish Garg, Debashis Ghosh, James Hudick, Chuen N
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