Management accounting differs from financial accounting because its intended use is to support users within the company in making informed business choices.
Identification, measurement, analysis, interpretation, and communication of financial information to managers for the pursuit of an organization's objectives are all part of managerial accounting. The goal of managerial accounting is to enhance the quality of information provided to management about business operation parameters. Managerial accountants make use of data on the price and sales revenue of the company's produced goods and services. Specifically focusing on capturing a company's entire costs of production by evaluating the variable costs of each stage of production as well as fixed costs, cost accounting is a significant subset of managerial accounting.
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