Management Accounting is used for effective enterprise management and its internal departments (centers). It is not regulated by any law and it is completely voluntary. Along with budgeting, it forms internal accounting. It uses data of financial accounting, costing, operational records and statistics. It uses statistical, mathematical and other methods and procedures. Its subject are not only costs but also revenue or cash flow.
Use of the Management Accounting in practice: Management accounting provides control (sometimes goes into controlling) and provides data to managers for their decision making. It is part of a management information system, which is itself part of an overall enterprise information system.