What is managerial accounting?

Managerial accounting encompasses many facets of accounting, including product costing, budgeting, forecasting, and various financial analysis. This differs from financial accounting, which produces and disseminates official financial statements for public consumption that conform to prevailing accounting standards.

What is the difference between managerial accounting and financial accounting?

Both financial professions work with financial information in similar ways, but for different purposes and uses. Managerial accounting is a specified type of accounting that has different job titles based on the company, industry, education, location, and more.

What is management accounting?

One simple definition of management accounting is the provision of financial and non-financial decision-making information to managers. In other words, management accounting helps the directors inside an organization to make decisions. This can also be known as Cost Accounting.