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Introduction to Managerial Accounting

Introduction

Managerial accounting is the branch of accounting that deals with providing accounting information that is useful to managers in decision-making. Unlike financial accounting, it does not focus on following reporting standards. Rather, it makes use of principles from different fields of business to cater to management needs.

What's in Here

Managerial accounting involves budgeting and forecasting, performance evaluation, financial analysis, product costing and pricing, evaluation of business decisions, governance, corporate finance, and other areas.

Before taking a deep-dive into the said topics, the following lessons will introduce you to managerial accounting, how it differs from financial accounting and cost accounting, and the ethical standards to be followed in practice.

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Lesson 1

What is Managerial Accounting?

Managerial accounting, or management accounting, is the branch of accounting that focuses on providing information for use by internal users, specifically – the management. Learn all about this field, the members of the management, and the chief management accountant or controller, in this introductory lesson.
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Lesson 2

Managerial Accounting vs. Financial Accounting

Managerial accounting and financial accounting are two of the most prominent branches of accounting. They both deal with processing information which is useful in decision-making; however, they have differences that distinguish them from each other. Learn about them in this lesson.
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Lesson 3

Managerial Accounting vs. Cost Accounting

Despite the presence of overlapping topics, cost accounting and managerial accounting are two different branches having different study focus. Let us find out the difference between cost accounting and managerial accounting.
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Lesson 4

Standards of Ethical Conduct for Management Accountants (Code of Ethics)

Management accountants should behave ethically. They have an obligation to follow the highest standards of ethical responsibility and maintain good professional image. The Institute of Management Accountants (IMA) has developed four standards of ethical conduct for management accountants and financial managers: competence, confidentiality, integrity, and credibility.
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