Management accounting is the process of providing financial and non‑financial information to managers to help them plan, control, and make effective decisions within an organisation. Unlike financial accounting—which focuses on producing reports for external users such as investors, regulators, and lenders—management accounting is designed for internal use and can be tailored to the specific needs of managers.

Management accounting involves analysing cost behaviour, preparing budgets, evaluating performance, forecasting future outcomes, and supporting strategic decisions. It covers tools such as cost analysis, cost structures,  budgeting, joint costs, cost–volume–profit (CVP) analysis, relevant costs, pricing based on costs,  capital investment appraisal, and Activity‑Based Costing (ABC), static/lexible budgeting as well as transfer pricing The information it provides helps managers allocate resources efficiently, set targets, assess profitability, identify inefficiencies, and support long‑term strategic planning.

In essence, management accounting aims to ensure that managers have relevant, timely, and useful information to improve decision‑making and enhance the organisation’s overall performance.