Solution:- Management needs a lots of information for the efficient running of business. Management would like to know whether the sales are increasing or decreasing and also the speed of increase in the cost of production. All such information is provided by accounting. With the help of accounting information the management of a company able to take decision like what is selling price or what discount we offer to customer etc. With the help of information the management of a company see that the cost incurred is reasonable and that no department is overspending. Accounting provides information to the management in this regard. It helps the management to estimate the cash receipts and cash disbursement during the next accounting period.
