The basic types of management accounting systems are: Cost accounting system: Cost accounting is a compilation of methods for evaluating product costs, processes and projects, to report accurate amounts of costs and expenses in financial statements while supplementing management's proprietary information for decision-making. Inventory Management Systems: The procedure for monitoring and controlling the ordering, storage, and usage of parts that a company uses in the process of manufacturing the product it sells. or in case of a merchandising company, the product it buys, holds in stock and the products it sells, is called inventory management system. It is essentially a method of supervising and controlling an organization's inventory. Job Costing: An order-specific estimating procedure to determine the organization's basic operational costs in cases where each job is different and is performed on a customer-specific basis.’