"Managerial Accounting" (book by Ray H. Garrison)

"Managerial Accounting," by Ray H. Garrison, is the field of accounting focused on providing internal managers with the financial information they need to make informed business decisions. Unlike financial accounting, which reports to external parties, managerial accounting helps managers plan, control, and evaluate operations through tools like budgets, cost analysis, and performance metrics. It emphasizes relevance, timeliness, and insight, enabling managers to optimize resources, improve efficiency, and achieve strategic goals. Essentially, it transforms financial data into practical guidance for managing and growing a business effectively.