Managament accounting

Management accounting is the 'application of the principles of accounting and financial management to create, protect, preserve and increase value for the shareholders of for-profit and not-for-profit enterprises in the public and private sectors.'

Cost accounting information is, in general, unsuitable for decision making.

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  SOURCE OF DATA. CHAPTER 02 A
  
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  Types of data:
  
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  Data may be classified as follows. (a) Primary and secondary data (b) Discrete and continuous data (c) Sample and population data
  
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  Primary and secondary data (a) Primary data are data collected especially for a specific purpose. Raw data are primary data which have not been processed at all, and which are still just a list of numbers. (b) Secondary data are data which have already been collected elsewhere, for some other purpose, but which can be used or adapted for the survey being conducted.
  
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