To businesses, Managerial Accounting means is designed to meet the needs of the internal user by focusing on the information used

by executives, managers, and employees who work inside the business. Management Accountants generate routine reports containing information regarding cost control and the planning and calculating of operations. Second, managerial accountants produce special reports for managers that are used for strategic and tactical decisions on matters such as pricing products or services, choosing which products to emphasize or de-emphasize, investing in equipment, and formulating overall policies and long-range planning. Management accounting primary focus includes recognizing and evaluating transactions and economic events; quantifying and estimating the value of those events; recording and classifying suitable transactions and events; and analyzing the reasons for, and relationships between, the transactions and events. Management accountants also assist decision makers who use the information they produce, and assess the implications of past and future events on proposed plans or decisions. They also work to ensure the veracity of the information that they produce and strive to put into practice a system of reporting that contributes to the effective measurement of management's performance.