Managerial accounting is the process of identification measurement, analysis, and interpretation of accounting information that helps business leaders make sound financial decisions and efficiently manage their daily operations, according to the Corporate Finance Institute.
Finally, managerial accounting information often takes the form of nonfinancial measures. For example, Sportswear Company might measure the percentage of defective products produced or the percentage of on-time deliveries to customers. This kind of nonfinancial information comes from the managerial accounting function.
Managerial accounting also known as cost accounting or management accounting is a branch of accounting that is concerned with the identification, measurement, analysis, and interpretation of accounting information so that it can be used to help managers make informed operational decisions.
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