explain the extent to which you agree or disagree that management accounting relies solely on cost accounting information

Answer 1

Hi! There is a subtle difference between Management and Cost Accounting:

Management Accounting typically does not deal with the details of how costs are accumulated, and unit costs are computed for inventory and income calculation purposes. That's the function of Cost Accounting. Management Accounting, instead, emphasizes the use of both financial and cost data for planning, control and decision-making purposes.

So, you could say that Cost Accounting does the grunt work on cost data for Management Accounting, and that the latter (Mgmt. Acctg.) also uses financial data for planning, control and decision-making purposes.

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