Managerial accounting plays an important role in helping businesses make better decisions and manage their resources wisely. While financial accounting focuses on reports for investors and regulators, managerial accounting is designed for internal use. It gives managers clear insights into costs, performance, and daily operations so they can plan and improve effectively. What is managerial accounting? Managerial accounting is the process of collecting and reviewing financial information to support business decisions. It helps managers understand how money is being spent, where improvements can be made, and how to plan for the future. The main goal is to improve efficiency, control costs, and support growth.
