The purpose of managerial accounting is to gather, summarize, and report the cost and revenue data relevant to each decision that is made.

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Managerial accounting is focused on providing information to internal decision-makers, such as managers and executives, to help them make informed decisions that benefit the organization. This information includes cost and revenue data, as well as other financial and non-financial information. The purpose of gathering, summarizing, and reporting this data is to provide relevant and timely information to decision-makers, so they can make informed decisions that support the overall goals and objectives of the organization.

The Purpose of Managerial Accounting Is to Gather, Summarize, and Report