This document provides an overview of managerial accounting, contrasting it with financial accounting. Managerial accounting focuses on internal reporting for management decision making, using tools like budgeting, cost analysis, and performance reports. It allows flexibility in format and is focused on the future, present and past. The controller is responsible for interpreting and reporting accounting data to aid in the management cycle of planning, controlling, and decision making. New management philosophies emphasize techniques like just-in-time and activity based costing to improve operations. Managerial reports provide relevant information for management and should follow the four W's of who, what, when and why. Cost accounting is also an important part of managerial reporting, classifying and tracing costs as