What is the difference b/w Management accounting and performance management?

What is the difference b/w Management accounting and performance management?|||In sharp contrast to financial accounting, managerial accounting information is intended to serve the specific needs of management. Business managers are charged with business planning, controlling,


and decision making. As such, they may desire specialized reports, budgets, product costing data, and other details that are generally not reported on an external basis. Further, management may dictate


the parameters under which such information is to be accumulated and presented. For instance, GAAP may require that certain research costs be deducted immediately in computing a business鈥檚 externally reported income; on the other hand, management may see these costs as a long-term investment and stipulate that internal decision making be based upon income numbers that exclude such costs. This is their prerogative.





Performance management is the tools to measure the performance of management, normally via a budget variance analysis, an objectives setting, review %26amp; control technique etc..





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