Encyclopaedic Dictionary of Management Accounting (L-Z)

Management Accounting is the application of accounting and statistical techniques to the specific purpose of producing and interpreting information designed to assist management in its functions of promoting maximum efficiency and in envisaging, formulating and coordinating their execution. Basic functions of Management Accounting are: collection of data; modification and presentation of data; analysis of data planning and forecasting; control; reporting; and decision making. It has gained importance because of efficient planning, efficient business operations, efficient control, optimumlabour efficiency, satisfaction of customers and efficiency of management. Organised in two volumes, the present work, encyclopaedic in nature, is a veritable mine of information. All the entries are judiciously selected and elaborately dealt with. Substantially compiled from authoritative sources, these volumes will prove dependable reference book as well as an indispensable hand book for researchers, academics and practising accountants and management personnel.