n IMFO : Official Journal of the Institute of Municipal Finance Officers - Activity-based cost and management for Local Government entities

Volume 6, Issue 1
  • ISSN : 1607-520X



Extracted from text ... IMFO Spring 05 30 INTRODUCTION Decision-makers often question the relevance of accounting information for decision-making. This diminished relevance of accounting information is often the result of the focus differences between financial and management accounting. Financial accounting has an external focus and reports the historical results, whereas management accounting aims to provide managerial information with an internal focus. However, conventional managerial accounting information is largely driven by the procedures and cycles of the organisation's financial reporting system, which provides information that is often too late, too aggregated and too distorted to be of relevance for many of the planning and ..

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