Final answer:
Managerial accounting is a branch of accounting that provides financial information to internal users for decision-making purposes.
Step-by-step explanation:
Managerial accounting is a branch of accounting that focuses on providing financial information and analysis to internal users within an organization, such as managers and executives, for decision-making purposes. It involves the preparation of budgets, forecasts, and financial reports that are used to assess the performance of different departments or projects. Managerial accounting also includes analyzing data to identify cost-saving opportunities, improve operational efficiency, and evaluate the profitability of products or services.
For example, a company's management might use managerial accounting techniques to determine the optimal pricing strategy for a new product or to evaluate the profitability of different distribution channels. They might analyze the costs of producing a product to identify areas where they can reduce expenses and improve profitability.