Final answer:
Management accounting requires the identification, generation, presentation, and use of relevant information for internal decision-making and planning within an organization.
Step-by-step explanation:
Management accounting requires the identification, generation, presentation, and use of relevant information to make informed business decisions. It serves as a tool for internal decision-making and planning within an organization.
For example, management accountants may identify relevant cost information to determine the profitability of different product lines, or they may analyze the financial performance of departments to make recommendations for cost reduction.
Management accounting also includes budgeting, variance analysis, performance measurement, and strategic planning.