In the competitive business environment organisation needs to make the right decision for the organisation to get the competitive advantages. Management Accounting Systems gives the important and relevant business information to the organisation so that they can make the right financial decision. Managerial accounting helps organisation to formulate the business strategy and prepare the budget for the organisation (Copeland, 2000).
On the other hand financial accounting helps organisation to keep the data, record the information for future use. Financial accounting provide financial information and management accounting analyse the financial information to make the right decision.
In response to budget retargeting, both organizations have perception on different basis. If comparing with previous year, it is seen that organizational expenditures …