The management accounting information system provides information needed to satisfy specific management objectives. At the heart of a management accounting information system are processes; They are described by activities such as collecting, measuring, storing, analyzing, reporting,and management information. Information on economicevents is processed into outputs that satisfy the system's objectives.Outputs may include special reports, product costs, customer costs,even buddgets, performance reports, and personal communication. The operational model of a management accounting information system is illustrated in Exhibit 1-1