Cost & Management Accounting is a branch of accounting that aims to overcome the limitations of Financial Accounting. The idea is to manage revenues and expenses to maximise profitability. Financial Management is nothing but applying general management principles such as planning, organising etc. to financial resources so that the organisational goals and objectives are met.

Cost & Management Accounting is one of the core competency areas of a CMA.As a CMA, you need to identify ways to maximise revenue and ensure that the company runs smoothly in terms of operations.You will help business keep their costs at a minimum and to leverage their resources properly. Financial Management is important because it helps you to make decisions that will maximise the value of the business.