Management accounting modifies the available accounting data rearranging in such a way that it becomes useful for management. In the case of Management Accounting, an individual segment of business comes under the purview. It is in this field that the management has scope to display ingenuity in the’ analysis, interpretation, and presentation of information at all levels of management. Inform subordinates as appropriate regarding the confidentiality of information acquired in the course of their work and monitor their activities to assure the maintenance of that confidentiality. Hence, we can say that the information provided by management accounting is not prepared by following GAAP. In management accounting or managerial accounting, managers use the provisions of accounting information to inform themselves better before they decide matters within their organizations, which allows them to manage better and perform control functions. Functions (or objectives) of Management Accounting. All this is made possible through budgetary control and standard costing, which is an integral part of management accounting. The degree of complexity relative to these activities are dependent on the experience level and abilities of any one individual. Accounting for revenues, expenses, assets, liabilities, and net worth, together with the production of summary financial reports. Perform their professional duties following relevant laws, regulations, and technical standards. Marginal costing is helpful for the measurement of profitability of different lines of production. Historical cost accounting is a system of accounting that records all transactions at costs incurred as soon as they take place or on a date immediately after their occurrence. In cost accounting, the cost of production is arrived at based on cost-centers, production departments, and work processes. The fund flow statement, cash flow statement, budgeting, standard costing, capital budgeting and marginal costing are used for planning purpose. As a result, an interrelationship grows among the different parts of the enterprise. In contrast, financial accounting is concerned with providing information to stockholders, creditors, and others who are outside the organization. The conclusions and decisions drawn by the management accountant are not executed automatically. This is a method of costing which is concerned with changes in costs resulting from changes in the volume of production. Management accounting, with the help of different techniques, formats the future course of action. Management accounting contributes a lot to increase the management efficiency of the organization providing managers with the correct information. This is an important tool for management accounting. Other tools, such as time series, regression analysis, sampling technique, etc. The main function of management accounting is to provide data and not decisions. It is not necessary to follow Generally accepted accounting principles (GAAP).