Critical tools with the management Accountant.

A management Accountant is a dynamic individual and is a true path finder for the growth and sustenance.He acquires his knowledge and necessary skills from the theory and the environment in which he functions.His scope is limitless as he is not bound by any formatted detailes rather what he does gets formatted ,thus he leads by examples.
For this a Management accountant has to update his skills constantly and should possess inquisitive mind or train his own to meet the circumstances.
Here we will see a brief of the conventional management accounting tools:
Methods and techniques of Costing:
Identification,collection and classification of costs.
Identification of Activity and Cost centres.
Activity based Budget.(Flexible budget etc).
Fixing of standards for cost engineering(Standards Costing).
Marginal costing(Pricing decisions).
Cost-benefit analysis(Project selection).
Capital Budgeting techniques.
Accounting for cost-Job costing/Process costing/Batch costing/Contract costing etc.