In every organization decisions are regularly made as part of smoothening activities of thernorganization and to achieve their objectives. Decision makers use different types of informationrnto make these valuable decisions. Accounting information is one of the information thatrnmanagers and other concerned bodies use when they make decisions. International Federationrnof Accountants (IFAC) 1998 had identified the field of organizational activity encompassed byrnmanagement accounting has developed through four evolutionary stages, that are the costrndetermination and financial control, information for management planning and control,rnreduction of waste of resources in business processes and creation of value through effectivernresource use. In view of this, the current study undertaken with the aim of investigating thernmanagement accounting practices & evolutionary stages in selected real estate companies inrnAddis Ababa city and to identify the types of decisions that managers often make and assessrnwhether managers use management accounting information in decision making and help themrnto be effective in their decisions. The data used in this study was obtained throughrnquestionnaire. Questionnaire was prepared and distributed to finance managers, marketingrnmanagers, construction managers, office engineers and accountants. The current study providesrnempirical evidence to infer that the utilization of Stage 1 is dominantly applied and most ofrnStage 2 of management accounting techniques is still applied in practice. The results show thatrnthe use of management accounting information for decision making is very low and thernmanagementâ€™s focus towards management accounting is below the required level. The findingsrnof the research can be specifically informative for policy makersâ€™ intent on developingrnmanagement accounting skills among firms in Ethiopia. This study recommends the creationrnand enhancement of awareness among firms on the importance of Information for decisionrnmaking practices as this is the most highly used management accounting practice amongst thernreal estate companies in Ethiopia.