Managerial Accounting

Managerial accounting involves the process of analyzing and reporting financial information to help managers within an organization make informed business decisions. Unlike financial accounting, which focuses on external reporting for stakeholders, managerial accounting provides insights on budgeting, cost control, and performance evaluation. It uses tools such as financial forecasts, variance analyses, and break-even analysis to support strategic planning and operational efficiency. Essentially, it helps managers understand their organization's financial health to drive better performance and achieve business goals.