Managerial Accounting
Managerial accounting, also known as management accounting, is a branch of accounting concerned with providing financial and non-financial information to managers within an organization for decision making purposes. It involves the preparation and analysis of detailed reports, budgets, and forecasts used to plan and control operations, assess performance, and make informed business decisions. Managerial accountants use various techniques such as cost accounting, activity-based costing, variance analysis, and strategic planning and cost management to provide relevant information to support managerial decision making. The focus of managerial accounting is on internal use of financial information, rather than external reporting, and it is often used in conjunction with other business data to drive performance improvement and create value for the organization.