Managerial Accounting Law and Legal Definition

Managerial accounting is the area of accounting that deals with reporting, processing, and controlling the cost of a process, job, unit, or department of a firm. It provides managers with accounting information to make informed business decisions that will allow them to be better equipped in their management and control functions. It uses both historical and estimated data in providing information that management uses in conducting daily operations in planning future operations, and in developing overall business strategies.