Final answer:
Managerial accounting helps managers by providing key financial information on products, revenues, costs, and profits, facilitating informed decision-making and assisting in attracting external investors.
Step-by-step explanation:
Managerial accounting plays a critical role in aiding managers to perform their functions effectively. By providing detailed reports on company products, revenues, costs, and profits, managerial accounting offers a foundation for making informed business decisions. This accounting discipline enhances the availability of financial information, which is crucial for attracting outside investors like bondholders and shareholders. As a result, the need for investors to know the managers personally decreases, as they rely on firm-wide financial data to make investment decisions.