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  • Cost and management accounting Notes Provides management with costs for products, inventories, operations or functions and compares actual to predetermined data It also provides a variety of data for many day-to-day decision as well as essential information for long-range decisions Functions of managerial accounting Determining the cost Cost and management accounting notes pdf Northern Territory In fact, management accounting is an extension of the managerial aspects of cost accounting; it utilizes the principles and practices of both cost accounting and financial accounting in the best interests of the business.