The purpose of managerial accounting is to supply financial and nonfinancial information to the organization’s management and other internal decision makers Most of the job responsibilities of a manager fit into one of three categories: planning, controlling, and evaluating

Planning involves setting goals and forming the plans to achieve those goals Evaluation determines whether plans are being followed and whether progress is being made as planned toward the fulfillment of organizational goals and objectives.

managerial accounting — process that allows decision makers to set and evaluate business goals by determining what information they need to make a particular decision and how to analyze and communicate…. controlling — monitoring of the planning objectives that were put into place. objective — target that needs to be met in order to meet company goals. evaluating — comparing actual results against the planned results.