Study Notes management accounting acca f2

▪ Statistics: 
Statistics are primary information. They can be very useful for looking at patterns and 
trends.
▪ Trade association: 
A 
trade association
, also known as an 
industry trade group
, 
business 
association
or 
sector association
, is an organization founded and funded by businesses that 
operate in a specific industry. An industry trade association participates in public relations activities 
such as advertising, education, political donations, lobbying and publishing, but its main focus is 
collaboration between companies, or standardization. 
▪ 
Government Authorities: 
Official states are supplied by many governments. For example, In UK, 
The Annual Abstract of statistics, The United Kingdom National Accounts, Social Trends, etc. 

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F2 Management Accounting
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▪ 
Economic Environment:
The economic environment has important influence on local and national 
level. The forecast state of the economy will influence the planning process for organisations which 
operates within it. In the time of boom, the overall planning problem will be to identify the demand, 
whereas in times of recession, the emphasis will be on cost effectiveness, continuing profitability, 
survival and competition. 
 
M
ANAGEMENT 
A
CCOUNTING 
V
ERSUS 
F
INANCIAL 
A
CCOUNTING
 
Management Accounting:
To provide management with information to help them 
manage resources
efficiently and make sensible 
decisions. 
There are no specific rules for management accounting. Depends on needs of organizations