What is Managerial Accounting?

Managerial accounting is also known as Management Accounting. Management accounting is made up of two words i.e. ‘Management’ and ‘Accounting’. It is easy to understand from the name that this part of accounting basically deals with management part of the organization. Management Accounting helps presenting accounting information in such a way that it helps in the management and in policy creation for the day to day operations. Thus, management accounting uses the financial accounting and cost accounting for planning, policy creation, control and making decisions.